Published on 9/29/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $5.84 million contingent income issuer callable yield notes on two indexes
New York, Sept. 29 – BofA Finance LLC priced $5.84 million of contingent income issuer callable yield notes due Sept. 27, 2028 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8%, paid quarterly, if each underlying index closes at or above its 55% coupon barrier on the related quarterly observation date.
The securities may be called at par on any quarterly call date starting March 27, 2024.
If the worst performing index finishes at or above its 55% threshold value, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines from initial level.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income issuer callable yield notes
|
| Underlying indexes: | Russell 2000 index and S&P 500 index
|
| Amount: | $5,838,000
|
| Maturity: | Sept. 27, 2028
|
| Coupon: | 8%, paid quarterly, if each underlying index closes at or above its 55% coupon barrier on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing index finishes at or above its 55% threshold value, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
|
| Call option: | At par on any quarterly call date starting March 27, 2024
|
| Initial levels: | 1,776.503 for Russell 2000 Index, 4,320.06 for S&P 500 Index
|
| Downside thresholds: | 977.077 for Russell 2000 Index, 2,376.03 for S&P 500 Index, 55% of initial level
|
| Coupon barriers: | 977.077 for Russell 2000 Index, 2,376.03 for S&P 500 Index, 55% of initial levels
|
| Pricing date: | Sept. 22
|
| Settlement date: | Sept. 27
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 0%
|
| Cusip: | 09711AM21
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
