Published on 11/29/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.9 million contingent income issuer callable yield notes on ETFs, index
Chicago, Nov. 29 – BofA Finance LLC priced $1.90 million of contingent income issuer callable yield notes due Nov. 27, 2026 linked to the least performing of the iShares Russell 2000 ETF, Nasdaq-100 index and VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.35%, 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 starting May 28, 2024 on any monthly call date.
If the worst performing asset gains or ends above its 50% 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
|
| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income issuer callable yield notes
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| Underlying assets: | iShares Russell 2000 ETF, Nasdaq-100 index and VanEck Gold Miners ETF
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| Amount: | $1,898,000
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| Maturity: | Nov. 27, 2026
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| Coupon: | 12.35% annual rate, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing asset finishes at or above its 50% threshold value, par; 1% loss for every 1% that worst performing asset declines if it finishes below its threshold value
|
| Call: | At par starting May 28, 2024 on any monthly call date
|
| Initial levels: | 16,001.39 for Nasdaq, $29.25 for Gold ETF, $178.13 for Russell ETF
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| Coupon barriers: | 11,200.97 for Nasdaq, $20.48 for Gold ETF, $124.69 for Russell ETF, 70% of initial levels
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| Downside thresholds: | 8,000.70 for Nasdaq, $14.63 for Gold ETF, $89.07 for Russell ETF, 50% of initial levels
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| Pricing date: | Nov. 22
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| Settlement date: | Nov. 28
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.5%
|
| Cusip: | 09710PAF3
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