Published on 4/23/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.25 million contingent income issuer callable yield notes on three indexes
New York, April 23 – BofA Finance LLC priced $3.25 million of contingent income issuer callable yield notes due April 20, 2029 linked to the Dow Jones industrial average, 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 9%, 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 22.
If the worst performing index finishes at or above its 60% threshold value, the payout at maturity will be par. 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: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $3.25 million
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| Maturity: | April 20, 2029
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| Coupon: | 9%, 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 60% 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 22
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| Initial levels: | 37,753.31 for Dow Jones industrial average, 1,947.947 for Russell 2000, 5,022.21 for S&P 500
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| Downside thresholds: | 22,651.99 for Dow Jones industrial average, 1,168.768 for Russell 2000, 3,013.33 for S&P 500, 60% of initial levels
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| Coupon barriers: | 26,427.32 for Dow Jones industrial average, 1,363.563 for Russell 2000, 3,515.54 for S&P 500, 70% of initial levels
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| Pricing date: | April 17
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| Settlement date: | April 22
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.25%
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| Cusip: | 09711BPT7
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