Published on 10/30/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.23 million 14.15% contingent income callable yield notes on indexes, fund
New York, Oct. 30 – BofA Finance LLC priced $1.23 million of contingent income issuer callable yield notes due April 29, 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 14.15%, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly observation date.
The securities may be called starting Jan. 29, 2024 at par on any monthly call date.
If the worst performing asset gains or ends above its 70% threshold value the payout at maturity will be par plus the contingent coupon. 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: | $1,226,000
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| Maturity: | April 29, 2025
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| Coupon: | 14.15%, paid monthly, if each underlier closes at or above its 75% coupon barrier 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 70% 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 Jan. 29, 2024 at par on any monthly call date
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| Initial levels: | 14,745.85 for Nasdaq-100 Index, 1,679.502 for Russell 2000 Index, $165.26 for Technology Select Sector SPDR Fund
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| Downside thresholds: | 10,322.10 for Nasdaq-100 Index, 1,175.651 for Russell 2000 Index, $115.68 for Technology Select Sector SPDR Fund, 70% of initial level
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| Coupon barriers: | 11,059.39 for Nasdaq-100 Index, 1,259.627 for Russell 2000 Index, $123.95 for Technology Select Sector SPDR Fund, 75% of initial levels
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| Pricing date: | Oct. 24
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| Settlement date: | Oct. 27
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.25%
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| Cusip: | 09711AWY0
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