Published on 11/16/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.67 million contingent income issuer callable yield notes on indexes, ETF
New York, Nov. 16 – BofA Finance LLC priced $1.67 million of contingent income issuer callable yield notes due Nov. 18, 2026 linked to the Nasdaq-100 index, the S&P 500 index and the SPDR Euro Stoxx 50 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.25%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par on any quarterly call date starting on May 16, 2024.
If the worst performing asset finishes at or above its 70% threshold value, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for every 1% that the worst performing asset 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 assets: | Nasdaq-100 index, S&P 500 index and SPDR Euro Stoxx 50 ETF
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| Amount: | $1,665,000
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| Maturity: | Nov. 18, 2026
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| Coupon: | 11.25%, paid monthly, if each underlier 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 asset finishes at or above its 70% threshold value, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call option: | At par on any quarterly call date starting on May 16, 2024
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| Initial levels: | 15,482.79 for Nasdaq-100 Index, 4,411.55 for S&P 500 Index, $43.32 for SPDR Euro Stoxx 50 ETF
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| Downside thresholds: | 10,837.95 for Nasdaq-100 Index, 3,088.09 for S&P 500 Index, $30.32 for SPDR Euro Stoxx 50 ETF, 70% of initial levels
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| Coupon barriers: | 10,837.95 for Nasdaq-100 Index, 3,088.09 for S&P 500 Index, $30.32 for SPDR Euro Stoxx 50 ETF, 70% of initial levels
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| Pricing date: | Nov. 13
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| Settlement date: | Nov. 16
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.25%
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| Cusip: | 09710P5F9
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