Published on 11/16/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1 million contingent income autocallable yield notes on indexes, ETF
New York, Nov. 16 – BofA Finance LLC priced $1 million of contingent income autocallable yield notes due Feb. 19, 2025 linked to the Nasdaq-100 index, the Russell 2000 index and the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15.5%, paid monthly, if each underlier closes at or above its 65% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if the closing level of each underlier is greater than or equal to 105% of its initial level on any quarterly call determination date starting in May 2024.
If the notes have not been called, the payout at maturity will be par unless any underlier closes below its 65% threshold during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer declines from initial level.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income autocallable yield notes
|
| Underlying assets: | Nasdaq-100 index, Russell 2000 index and VanEck Gold Miners ETF
|
| Amount: | $1 million
|
| Maturity: | Feb. 19, 2025
|
| Coupon: | 15.5%, paid monthly, if each underlier closes at or above its 65% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlier closes below its 65% threshold during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer declines from initial level
|
| Call: | Automatically at par if the closing level of each underlier is greater than or equal to 105% of its initial level on any quarterly call determination date starting in May 2024
|
| Initial levels: | 15,482.79 for Nasdaq-100 Index, 1,705.502 for Russell 2000 Index, $27.04 for VanEck Gold Miners ETF
|
| Downside thresholds: | 10,063.81 for Nasdaq-100 Index, 1,108.576 for Russell 2000 Index, $17.58 for VanEck Gold Miners ETF, 65% of initial levels
|
| Coupon barriers: | 10,063.81 for Nasdaq-100 Index, 1,108.576 for Russell 2000 Index, $17.58 for VanEck Gold Miners ETF, 65% of initial levels
|
| Pricing date: | Nov. 13
|
| Settlement date: | Nov. 16
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 1%
|
| Cusip: | 09710P5R3
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
