Published on 4/4/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $5.19 million 13% contingent income callable yield notes on indexes, fund
New York, April 4 – BofA Finance LLC priced $5.19 million of contingent income issuer callable yield notes due April 2, 2026 linked to the Russell 2000 index, S&P 500 index and Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities may be called starting July 6 on any quarterly call determination date.
If the worst performing asset gains or ends above its 50% threshold value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes below its threshold value.
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 issuer callable yield notes
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Underlying assets: | Russell 2000 index, S&P 500 index and Technology Select Sector SPDR Fund
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Amount: | $5,188,000
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Maturity: | April 2, 2026
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Coupon: | 13%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date
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Price: | Par
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Payout at maturity: | If worst performing asset finishes at or above its 50% threshold value, par; 1% loss for every 1% that worst performing asset declines if it finishes below its threshold value
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Call: | Starting July 6 on any quarterly call determination date
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Initial levels: | 1,768.383 for Russell 2000 Index, 4,050.83 for S&P 500 Index, $148.88 for Technology Select Sector SPDR Fund
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Downside thresholds: | 884.192 for Russell 2000 Index, 2,025.42 for S&P 500 Index, $74.44 for Technology Select Sector SPDR Fund, 50% of initial level
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Coupon barriers: | 1,237.868 for Russell 2000 Index, 2,835.58 for S&P 500 Index, $104.22 for Technology Select Sector SPDR Fund, 70% of initial levels
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Pricing date: | March 30
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Settlement date: | April 4
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Agent: | BofA Securities
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Fees: | 0.4%
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Cusip: | 09709VQM1
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