Published on 12/28/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1 million contingent income autocallable yield notes on stocks
By Wendy Van Sickle
Columbus, Ohio, Dec. 28 – BofA Finance LLC priced $1 million of contingent income autocallable yield notes due Dec. 26, 2028 linked to the stocks of Amazon.com, Inc., Advanced Micro Devices, Inc. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.5%, paid monthly, if the least performing stock closes at or above its 80% coupon barrier on the related monthly observation date, plus any previously unpaid coupon.
The securities may be called automatically starting in December 2024 at par on a quarterly call observation date if each stock closes at or above its initial level.
The payout at maturity will be par plus any coupon.
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: | Contingent income autocallable yield notes
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| Underlying stocks: | Amazon.com, Inc., Advanced Micro Devices, Inc. and Nvidia Corp.
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| Amount: | $1 million
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| Maturity: | Dec. 26, 2028
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| Coupon: | 7.5%, paid monthly, if the least performing stock closes at or above its coupon barrier on the related monthly observation date, plus any previously unpaid coupon
|
| Price: | Par
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| Payout at maturity: | Par plus any coupon due
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| Call: | Automatically starting in December 2024 at par on a quarterly call observation date if each stock closes at or above its initial level
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| Initial levels: | $152.12 for Amazon, $135.47 for Advanced Micro, $481.11 for Nvidia
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| Coupon barriers: | $121.70 for Amazon, $108.38 for Advanced Micro, $384.89 for Nvidia, 80% of initial levels
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 26
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.35%
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| Cusip: | 09710PFK7
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