Published on 12/5/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $560,000 9.5% fixed income issuer callable yield notes on indexes
By Kiku Steinfeld
Chicago, Dec. 5 – BofA Finance LLC priced $560,000 of fixed income issuer callable yield notes due July 25, 2024 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.5%, paid monthly.
The securities may be called on any quarterly call date.
If the worst performing index 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 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
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Guarantor: | Bank of America Corp.
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Issue: | Fixed income issuer callable yield notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $560,000
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Maturity: | July 25, 2024
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Coupon: | 9.5%, paid monthly
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its 70% threshold value, par; 1% loss for every 1% that worst performing index declines if it finishes below its threshold value
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Call: | On any quarterly call date
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Initial levels: | 13,000.77 for Nasdaq Index, 1,791.506 for Russell, 4,133.52 for S&P
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Downside thresholds: | 9,100.54 for Nasdaq Index, 1,254.054 for Russell, 2,893.46 for S&P, 70% of initial level
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Pricing date: | April 21, 2023
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Settlement date: | April 26, 2023
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Agent: | BofA Securities, Inc.
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Fees: | 0.25%
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Cusip: | 09709VST4
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