Published on 9/27/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $10 million trigger callable yield notes linked to Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Sept. 27 – BofA Finance LLC priced $10 million of 9.4% trigger callable yield notes due Dec. 27, 2024 linked to lesser performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Beginning Dec. 26, the notes will be callable at par on any monthly call date.
If the notes are not called and the worst performing index’s final level is greater than or equal to its downside threshold level, 70% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing index’s final index level is less than its initial index level.
The notes are guaranteed by Bank of America Corp.
UBS Securities LLC and BofA Securities, 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 Nasdaq-100 index
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| Amount: | $10 million
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| Maturity: | Dec. 27, 2024
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| Coupon: | 9.4% per year, payable monthly
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| Price: | Par of $10
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| Payout at maturity: | If notes are not called and worst performing index’s final index level is greater than or equal to downside threshold level, par; otherwise, 1% loss for every 1% that worst performing index’s final index level is less than initial index level
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| Call: | Beginning Dec. 26, at par monthly
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| Initial levels: | 1,781.826 for Russell and 14,694.24 for Nasdaq
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| Downside thresholds: | 1,247.278 for Russell and 10,285.97 for Nasdaq, or 70% of initial levels
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| Pricing date: | Sept. 16
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| Settlement date: | Sept. 21
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| Underwriters: | UBS Securities LLC and BofA Securities, Inc.
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| Fees: | 1%
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| Cusip: | 09710M293
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