Published on 12/6/2022 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.14 million contingent income autocallable securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 6 – BofA Finance LLC priced $3.14 million of contingent income autocallable yield notes due Dec. 4, 2025 linked to the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.5%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the observation date.
The securities will be automatically called at par if each index closes at or above its initial level on any quarterly call valuation date after six months.
If the worst performing index gains or ends above its 75% downside threshold the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing index declines from its 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 autocallable yield notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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Amount: | $3,139,000
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Maturity: | Dec. 4, 2025
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Coupon: | 12.5%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the observation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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Call: | Automatically at par if each index closes at or above initial level on any quarterly call valuation date after six months
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Initial levels: | 1,886.577 for Russell, 34,589.77 for Dow, 12,030.06 for Nasdaq
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Downside thresholds: | 1,414.933 for Russell, 25,942.33 for Dow, 9,022.55 for Nasdaq, 75% of initial level
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Coupon barriers: | 1,414.933 for Russell, 25,942.33 for Dow, 9,022.55 for Nasdaq, 75% of initial level
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Pricing date: | Nov. 30
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Settlement date: | Dec. 5
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 09709VB70
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