Published on 2/23/2024 in the Prospect News Structured Products Daily.
New Issue: BofA sells $245,000 7.625% contingent income issuer callable yield notes on indexes
Chicago, Feb. 23 – BofA Finance LLC priced $245,000 of contingent income issuer callable yield notes due Oct. 19, 2028 linked to the least performing of the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.625%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par starting Jan. 22, 2025 on any monthly call date.
If the worst performing index gains or ends above its 70% threshold value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its threshold value.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income issuer callable yield notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $245,000
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| Maturity: | Oct. 19, 2028
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| Coupon: | 7.625% annual rate, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date
|
| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its 70% threshold value, par; 1% loss for every 1% that worst performing index declines if it finishes below its threshold value
|
| Call: | At par starting Jan. 22, 2025 on any monthly call date
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| Initial levels: | 16,830.71 for Nasdaq, 1,927.304 for Russell, 4,765.98 for S&P
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| Coupon barriers: | 11,781.50 for Nasdaq, 1,349.113 for Russell, 3,336.19 for S&P, 70% of initial levels
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| Downside thresholds: | 11,781.50 for Nasdaq, 1,349.113 for Russell, 3,336.19 for S&P, 70% of initial levels
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| Pricing date: | Jan. 16
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| Settlement date: | Jan. 19
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| Agent: | BofA Securities, Inc.
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| Fees: | 3.65%
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| Cusip: | 09710PH90
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