New Issue: BofA prices $150,000 8.5% contingent income issuer callable yield notes on S&P 500

By Kiku Steinfeld

Chicago, Dec. 4 – BofA Finance LLC priced $150,000 of contingent income issuer callable yield notes due April 23, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 8.5%, paid monthly, if the underlying index closes at or above its 70% coupon barrier on the related monthly observation date.

The securities may be called starting July 25, 2023 on any monthly call date.

If the index gains or ends above its 60% threshold value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the index 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.
Issue:	Contingent income issuer callable yield notes
Underlying index:	S&P 500
Amount:	$150,000
Maturity:	April 23, 2026
Coupon:	8.5%, paid monthly, if the underlying index closes at or above its 70% coupon barrier on the related monthly observation date
Price:	Par
Payout at maturity:	If index finishes at or above its 60% threshold value, par; 1% loss for every 1% that index declines if it finishes below its threshold value
Call:	Starting July 25, 2023 on any monthly call date
Initial level:	4,129.79
Downside threshold:	2,477.87, 60% of initial level
Coupon barrier:	2,890.85, 70% of initial level
Pricing date:	April 20, 2023
Settlement date:	April 25, 2023
Agent:	BofA Securities, Inc.
Fees:	0.25%
Cusip:	09709VQQ2

© 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.