Published on 6/13/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.21 million 10.05% contingent income callable yield notes on Russell 2000
New York, June 13 – BofA Finance LLC priced $1.21 million of contingent income issuer callable yield notes due June 7, 2028 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.05%, paid quarterly, if the underlying index closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities may be called starting Dec. 7, 2023 on any quarterly call date.
If the index gains or ends above its 60% threshold value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the index declines if it finishes below its threshold value.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. 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 index: | Russell 2000
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Amount: | $1.21 million
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Maturity: | June 7, 2028
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Coupon: | 10.05%, paid quarterly, if the underlying index 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 index finishes at or above its 60% threshold value, par; 1% loss for every 1% that index declines if it finishes below its threshold value
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Call: | Starting Dec. 7, 2023 on any quarterly call date
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Initial level: | 1,830.906
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Downside threshold: | 1,098.544, 60% of initial level
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Coupon barrier: | 1,281.634, 70% of initial level
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Pricing date: | June 2
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Settlement date: | June 7
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Agent: | BofA Securities, Inc.
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Fees: | 0%
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Cusip: | 09711A2M9
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