Published on 7/6/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.06 million 10.5% contingent income issuer callable yield notes on indexes
New York, July 6 – BofA Finance LLC priced $1.06 million of contingent income issuer callable yield notes due July 3, 2025 linked to the Euro Stoxx 50 index, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities may be called starting Jan. 4, 2024 on any quarterly call date.
If the worst performing index gains or ends above its 75% 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, 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 indexes: | Euro Stoxx 50 index, Nasdaq-100 index and Russell 2000 index
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| Amount: | $1.06 million
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| Maturity: | July 3, 2025
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| Coupon: | 10.5%, paid quarterly, if each underlying index closes at or above its 75% 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 75% threshold value, par; 1% loss for every 1% that worst performing index declines if it finishes below its threshold value
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| Call: | Starting Jan. 4, 2024 on any quarterly call date
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| Initial levels: | 4,354.69 for EURO STOXX 50 Index, 14,939.95 for Nasdaq-100 Index, 1,881.591 for Russell 2000 Index
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| Downside thresholds: | 3,266.02 for EURO STOXX 50 Index, 11,204.96 for Nasdaq-100 Index, 1,411.193 for Russell 2000 Index, 75% of initial level
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| Coupon barriers: | 3,266.02 for EURO STOXX 50 Index, 11,204.96 for Nasdaq-100 Index, 1,411.193 for Russell 2000 Index, 75% of initial levels
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| Pricing date: | June 29
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| Settlement date: | July 5
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| Agent: | BofA Securities, Inc.
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| Fees: | 2.5%
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| Cusip: | 09711A7L6
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