Published on 5/19/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $6.1 million 10.35% callable contingent income notes on indexes
Chicago, May 19 – BofA Finance LLC priced $6.1 million of callable contingent income securities due May 15, 2025 linked to the worst performing of the S&P 500 index, Russell 2000 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.35%, paid quarterly, if each underlying index closes at or above its 65% coupon barrier on the related quarterly observation date.
The securities may be called starting Aug. 17 at par on any quarterly call determination date.
At maturity the payout will be par unless the worst performing index closes below its 65% downside threshold in which case investors will be fully exposed to the decline of that index.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent with Morgan Stanley Wealth Management as structurer.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Callable contingent income securities
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
|
| Amount: | $6,102,000
|
| Maturity: | May 15, 2025
|
| Coupon: | 10.35% annual rate, paid quarterly, if each underlying index closes at or above its 65% coupon barrier on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing index closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying index
|
| Call: | Starting Aug. 17 at par on any quarterly call determination date
|
| Initial levels: | 13,340.18, for Nasdaq, 1,740.849, for Russell, 4,124.08, for S&P
|
| Downside threshold: | 8,671.12 for Nasdaq, 1,131.552 for Russell, 2,680.65 for S&P, 65% of initial levels
|
| Coupon barriers: | 8,671.12 for Nasdaq, 1,131.552 for Russell, 2,680.65 for S&P, 65% of initial levels
|
| Pricing date: | May 12
|
| Settlement date: | May 17
|
| Agent: | BofA Securities, Inc. with Morgan Stanley Wealth Management as structurer
|
| Fees: | 2%
|
| Cusip: | 09709VWF9
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
