Published on 4/10/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.94 million contingent income issuer callable yield notes on three indexes
New York, April 10 – BofA Finance LLC priced $3.94 million of contingent income issuer callable yield notes due March 31, 2026 linked to the Nasdaq-100 index, 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 11.11%, 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 on any monthly determination date starting on July 1.
If the worst performing index finishes at or above its 70% 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
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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: | $3,937,000
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| Maturity: | March 31, 2026
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| Coupon: | 11.11%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its 70% threshold value, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call option: | At par on any monthly determination date starting on July 1
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| Initial levels: | 18,210.54 for Nasdaq-100, 2,070.163 for Russell 2000, 5,203.58 for S&P 500
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| Downside thresholds: | 12,747.38 for Nasdaq-100, 1,449.114 for Russell 2000, 3,642.51 for S&P 500, 70% of initial level
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| Coupon barriers: | 12,747.38 for Nasdaq-100, 1,449.114 for Russell 2000, 3,642.51 for S&P 500, 70% of initial levels
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| Strike date: | March 26
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| Pricing date: | March 28
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| Settlement date: | April 3
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.2%
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| Cusip: | 09711BJ98
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