Published on 10/17/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $6.25 million contingent income callable yield notes on indexes, ETF
New York, Oct. 17 – BofA Finance LLC priced $6.25 million of contingent income issuer callable yield notes due Oct. 16, 2025 linked to the Nasdaq-100 index, Russell 2000 index and Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.4%, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly observation date.
The securities may be called at par starting April 15, 2024 on any monthly call date.
If the worst performing asset gains or ends above its 70% downside threshold value the payout at maturity will be par plus the contingent coupon, if any. Investors will lose 1% for every 1% that the worst performing asset 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 assets: | Nasdaq-100 index, Russell 2000 index and Technology Select Sector SPDR Fund
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| Amount: | $6,247,000
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| Maturity: | Oct. 16, 2025
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| Coupon: | 14.4%, paid monthly, if each underlier closes at or above its downside threshold on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its threshold value, par; 1% loss for every 1% that worst performing asset declines if it finishes below its threshold value
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| Call: | Starting April 15, 2024 on any monthly call date at par
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| Initial levels: | 15,131.52 for Nasdaq, $169.35 for Technology, 1,775.946 for Russel
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| Coupon barriers: | 11,348.64 for Nasdaq, $127.01 for Technology, 1,331.96 for Russell, 75% of initial levels
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| Downside thresholds: | 10,592.06 for Nasdaq, $118.55 for Technology, 1,234.162 for Russell, 70% of initial levels
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| Pricing date: | Oct. 10
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| Settlement date: | Oct. 12
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.25%
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| Cusip: | 09711AVH8
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