Published on 4/3/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $5.5 million 20.55% contingent income autocallable yield notes on indexes, ETF
New York, April 3 – BofA Finance LLC priced $5.5 million of contingent income autocallable yield notes due June 27, 2024 linked to the Nasdaq-100 index, Russell 2000 index and VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 20.55%, paid monthly, if each underlier closes at or above its 65% coupon barrier on the related monthly observation date.
The securities may be called automatically starting in September 2023 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent determination date.
If none of the assets closes below the 65% threshold value during the life of the notes the payout at maturity will be par plus the contingent coupon. Otherwise investors will lose 1% for every 1% that the worst performing asset declines.
The notes are guaranteed by Bank of America Corp.
BofA Securities 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 assets: | Nasdaq-100 index, Russell 2000 index and VanEck Gold Miners ETF
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| Amount: | $5.5 million
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| Maturity: | June 27, 2024
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| Coupon: | 20.55%, paid monthly, if each underlier closes at or above its 65% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If none of the assets close below the 65% threshold value during the life of the notes, par; otherwise 1% loss for every 1% that worst performing asset declines
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| Call: | Automatically starting in September 2023 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent determination date
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| Initial levels: | 12,767.05 for Nasdaq-100 Index, 1,734.923 for Russell 2000 Index, $31.55 for VanEck Gold Miners ETF
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| Downside thresholds: | 8,298.58 for Nasdaq-100 Index, 1,127.700 for Russell 2000 Index, $20.51 for VanEck Gold Miners ETF, 65% of initial level
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| Coupon barriers: | 8,298.58 for Nasdaq-100 Index, 1,127.700 for Russell 2000 Index, $20.51 for VanEck Gold Miners ETF, 65% of initial levels
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| Pricing date: | March 24
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| Settlement date: | March 29
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| Agent: | BofA Securities
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| Fees: | 1%
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| Cusip: | 09709VNJ1
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