Published on 4/14/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.68 million 12.22% contingent income issuer callable yield notes on indexes
Chicago, April 14 – BofA Finance LLC priced $3.68 million of contingent income issuer callable yield notes due April 15, 2026 linked to the least performing of the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.22%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par starting Oct. 13, 2023 on any monthly call determination date.
If the worst performing index gains or ends above its 70% threshold value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing index 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
|
| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income issuer callable yield notes
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
|
| Amount: | $3,676,000
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| Maturity: | April 15, 2026
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| Coupon: | 12.22% annual rate, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing index finishes at or above its 70% threshold value, par; 1% loss for every 1% that worst performing index declines if it finishes below its threshold value
|
| Call: | At par starting Oct. 13, 2023 on any monthly call determination date
|
| Initial levels: | 33,586.52 for Dow, 13,051.23 for Nasdaq, 1,772.443 for Russell
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| Downside thresholds: | 23,510.56 for Dow, 9,135.86 for Nasdaq, 1,240.710 for Russell, 70% of initial levels
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| Coupon barriers: | 23,510.56 for Dow, 9,135.86 for Nasdaq, 1,240.710 for Russell, 70% of initial levels
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| Pricing date: | April 10
|
| Settlement date: | April 13
|
| Agent: | BofA Securities
|
| Fees: | 0.85%
|
| Cusip: | 09709VPV2
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