Published on 8/15/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.18 million contingent income issuer callable yield notes on three indexes
New York, Aug. 15 – BofA Finance LLC priced $3.18 million of contingent income issuer callable yield notes due Aug. 13, 2026 linked to the Nasdaq-100 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 10.1%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par on any monthly call date starting Nov. 14.
If the worst performing index finishes at or above its 65% threshold value, the payout at maturity will be par. 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, 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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $3,177,000
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Maturity: | Aug. 13, 2026
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Coupon: | 10.1%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its 65% 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 monthly call date starting Nov. 14
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Initial levels: | 15,101.71 for Nasdaq-100 Index, 1,930.767 for Russell 2000 Index, 4,467.71 for S&P 500 Index
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Downside thresholds: | 9,816.11 for Nasdaq-100 Index, 1,254.999 for Russell 2000 Index, 2,904.01 for S&P 500 Index, 65% of initial level
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Coupon barriers: | 10,571.20 for Nasdaq-100 Index, 1,351.537 for Russell 2000 Index, 3,127.40 for S&P 500 Index, 70% of initial levels
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Pricing date: | Aug. 9
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Settlement date: | Aug. 14
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Agent: | BofA Securities, Inc.
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Fees: | 0.9%
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Cusip: | 09711AFF0
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