Published on 12/11/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.69 million 9.75% contingent income issuer callable yield notes on indexes, fund
New York, Dec. 11 – BofA Finance LLC priced $1.69 million of contingent income issuer callable yield notes due Dec. 4, 2025 linked to the Russell 2000 index, S&P 500 index and Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.75%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called starting March 6, 2024 on any monthly call date.
If the worst performing asset 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 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.
|
| Issue: | Contingent income issuer callable yield notes
|
| Underlying assets: | Russell 2000 index, S&P 500 index and Utilities Select Sector SPDR Fund
|
| Amount: | $1,687,000
|
| Maturity: | Dec. 4, 2025
|
| Coupon: | 9.75%, 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 60% threshold value, par; 1% loss for every 1% that worst performing asset declines if it finishes below its threshold value
|
| Call: | Starting March 6, 2024 on any monthly call date
|
| Initial levels: | 1,862.641 for Russell 2000 Index, 4,594.63 for S&P 500 Index, $63.53 for Utilities Select Sector SPDR Fund
|
| Downside thresholds: | 1,117.585 for Russell 2000 Index, 2,756.78 for S&P 500 Index, $38.12 for Utilities Select Sector SPDR Fund, 60% of initial level
|
| Coupon barriers: | 1,303.849 for Russell 2000 Index, 3,216.24 for S&P 500 Index, $44.47 for Utilities Select Sector SPDR Fund, 70% of initial levels
|
| Pricing date: | Dec. 1
|
| Settlement date: | Dec. 6
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 0.3%
|
| Cusip: | 09710PB62
|
|
|
|
|
© 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.
