Published on 5/18/2022 in the Prospect News Structured Products Daily.
New Issue: BofA sells $42.78 million 11.28% fixed income callable yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, May 18 – BofA Finance LLC priced $42.78 million of 11.28% fixed income callable yield notes due May 18, 2023 linked to the worst performing of the Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be callable at par on any monthly determination date after six months.
If the notes have not been called, the payout at maturity will be par unless any index closes below its 70% threshold value during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Fixed income callable yield notes
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| Underlying assets: | Russell 2000 index, S&P 500 index, Nasdaq-100 index
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| Amount: | $42,784,000.00
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| Maturity: | May 18, 2023
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| Coupon: | 11.28% annualized, payable monthly
|
| Price: | Par
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| Payout at maturity: | Par unless any index closes below its downside threshold value during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
|
| Call option: | At par on any monthly determination date after six months
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| Initial levels: | 4,023.89 for S&P, 1,792.666 for Russell, 12,387.4 for Nasdaq
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| Downside thresholds: | 2,816.72 for S&P, 1,254.866 for Russell, 8,671.18 for Nasdaq; 70% of initial levels
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| Pricing date: | May 13
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| Settlement date: | May 18
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| Selling agent: | BofA Securities, Inc.
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| Fees: | 0.25%
|
| Cusip: | 09709UR91
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