Published on 7/20/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $13.68 million trigger callable yield notes on Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, July 20 – BofA Finance LLC priced $13.68 million of 9.3% trigger callable yield notes due Oct. 10, 2024 linked to the least performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on any monthly call date after three months.
The payout at maturity will be par unless any index finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the worst performer from its initial level.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. and UBS Financial Services Inc. are the agents.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Trigger callable yield notes
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Underlying indexes: | Russell 2000 index and Euro Stoxx 50 index
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Amount: | $13,683,400
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Maturity: | Oct. 10, 2024
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Coupon: | 9.3% per year, payable monthly
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Price: | Par of $10
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Payout at maturity: | Par unless any index finishes below downside threshold, in which case 1% loss for each 1% decline worst performer from initial level
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Call option: | At par on any monthly evaluation date after three months
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Initial levels: | 4,236.6 for Stoxx, 1,864.664 for Russell
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Downside thresholds: | 2,541.96 for Stoxx, 1,118.798 for Russell; 60% of initial levels
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Pricing date: | July 7
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Settlement date: | July 12
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Agents: | BofA Securities, Inc. and UBS Financial Services Inc.
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Fees: | 0%
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Cusip: | 09710K776
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