Published on 1/10/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1 million 10% contingent income callable yield notes on Stoxx 50, MSCI EM
New York, Jan. 10 – BofA Finance LLC priced $1 million of contingent income issuer callable yield notes due Jan. 8, 2026 linked to the Euro Stoxx 50 index and MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid quarterly, if each underlying index closes at or above its 79% coupon barrier on the related quarterly observation date.
The securities may be called starting July 10, 2024 on any quarterly call date.
If the worst performing index gains or ends above its 79% 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: | Contingent income issuer callable yield notes
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| Underlying indexes: | Euro Stoxx 50 index and MSCI Emerging Markets index
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| Amount: | $1 million
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| Maturity: | Jan. 8, 2026
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| Coupon: | 10%, paid quarterly, if each underlying index closes at or above its 79% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its 79% 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: | Starting July 10, 2024 on any quarterly call date
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| Initial levels: | 4,474.01 for EURO STOXX 50 Index, 1,004.26 for MSCI Emerging Markets Index
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| Downside thresholds: | 3,534.47 for EURO STOXX 50 Index, 793.37 for MSCI Emerging Markets Index, 79% of initial level
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| Coupon barriers: | 3,534.47 for EURO STOXX 50 Index, 793.37 for MSCI Emerging Markets Index, 79% of initial levels
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| Pricing date: | Jan. 4
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| Settlement date: | Jan. 9
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| Agent: | BofA Securities, Inc.
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| Fees: | 1.75%
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| Cusip: | 09710PLA2
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