Published on 10/12/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $465,000 9.75% contingent income issuer callable yield notes linked to S&P
Chicago, Oct. 12 – BofA Finance LLC priced $465,000 of contingent income issuer callable yield notes due Oct. 3, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.75%, paid monthly, if the underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par starting April 4, 2023 on any monthly 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
|
| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income issuer callable yield notes
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| Underlying index: | S&P 500 index
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| Amount: | $465,000
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| Maturity: | Oct. 3, 2025
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| Coupon: | 9.75% annual rate, paid monthly, if the underlying index closes at or above its 70% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| 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
|
| Call: | At par starting April 4, 2023 on any monthly call date
|
| Initial level: | 3,585.62
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| Coupon barrier: | 2,509.93, 70% of initial level
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| Downside threshold: | 2,151.37, 60% of initial level
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| Pricing date: | Sept. 30, 2022
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| Settlement date: | Oct. 5, 2022
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| Agent: | BofA Securities, Inc.
|
| Fees: | 0.75%
|
| Cusip: | 09709V3V6
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