Published on 4/18/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $2.51 million contingent income issuer callable yield notes on three indexes
New York, April 18 – BofA Finance LLC priced $2.51 million of contingent income issuer callable yield notes due April 3, 2025 linked to the MSCI Emerging Markets index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.5%, paid quarterly, if each underlying index closes at or above its 50% coupon barrier on the related quarterly observation date.
The securities may be called at par on any quarterly call determination date starting Oct. 5, 2023.
If the worst performing index finishes at or above its 50% threshold value, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines from initial level.
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 indexes: | MSCI Emerging Markets index, Russell 2000 index and S&P 500 index
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| Amount: | $2,505,000
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| Maturity: | April 3, 2025
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| Coupon: | 7.5%, paid quarterly, if each underlying index closes at or above its 50% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its 50% threshold value, 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 determination date starting Oct. 5, 2023
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| Initial levels: | 990.28 for MSCI Emerging Markets Index, 1,802.484 for Russell 2000 Index, 4,109.31 for S&P 500 Index
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| Downside thresholds: | 495.14 for MSCI Emerging Markets Index, 901.242 for Russell 2000 Index, 2,054.66 for S&P 500 Index, 50% of initial level
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| Coupon barriers: | 495.14 for MSCI Emerging Markets Index, 901.242 for Russell 2000 Index, 2,054.66 for S&P 500 Index, 50% of initial levels
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| Pricing date: | March 31
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| Settlement date: | April 5
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| Agent: | BofA Securities
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| Fees: | 1.75%
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| Cusip: | 09709VPJ9
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