Published on 1/6/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.48 million contingent income callable securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, Jan. 6 – BofA Finance LLC priced $3.48 million of contingent income issuer callable yield notes due Dec. 26, 2025 linked to the Russell 2000 index, the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.25%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the observation date.
The securities may be called at par on any quarterly call valuation date after six months.
If the worst performing index gains or ends above its 70% 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 issuer callable yield notes
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index
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| Amount: | $3,481,000
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| Maturity: | Dec. 26, 2025
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| Coupon: | 13.25%, paid monthly, if each underlying index closes at or above its 70% 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 option: | At par on any quarterly call valuation date after six months
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| Initial levels: | 33,027.49 for Dow, 10,956.14 for Nasdaq, 1,754.086 for Russell
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| Downside thresholds: | 23,119.24 for Dow, 7,669.3 for Nasdaq, 1,227.86 for Russell, 70% of initial levels
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| Coupon barriers: | 23,119.24 for Dow, 7,669.3 for Nasdaq, 1,227.86 for Russell, 70% of initial levels
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| ricing date: | Dec. 22
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| Settlement date: | Dec. 28
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.7%
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| Cusip: | 09709VC46
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