Published on 1/16/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1 million 9.8% contingent income buffered issuer callable yield notes on indexes, fund
New York, Jan. 16 – BofA Finance LLC priced $1 million of contingent income buffered issuer callable yield notes due Jan. 8, 2026 linked to the Nasdaq-100 index, Russell 2000 index and Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.8%, 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 April 10 on any monthly call date.
If the worst performing asset gains or ends above its 80% threshold value the payout at maturity will be par plus the contingent coupon. Otherwise investors will lose 1% for every 1% that the worst performing asset declines 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 buffered issuer callable yield notes
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| Underlying assets: | Nasdaq-100 index, Russell 2000 index and Utilities Select Sector SPDR Fund
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| Amount: | $1 million
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| Maturity: | Jan. 8, 2026
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| Coupon: | 9.8%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its 80% threshold value, par; otherwise 1% loss for every 1% that worst performing asset declines below its threshold value
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| Call: | Starting April 10 on any monthly call date
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| Initial levels: | 16,305.98 for Nasdaq-100 Index, 1,951.142 for Russell 2000 Index, $64.53 for Utilities Select Sector SPDR Fund
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| Downside thresholds: | 13,044.78 for Nasdaq-100 Index, 1,560.914 for Russell 2000 Index, $51.62 for Utilities Select Sector SPDR Fund, 80% of initial level
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| Coupon barriers: | 11,414.19 for Nasdaq-100 Index, 1,365.799 for Russell 2000 Index, $45.17 for Utilities Select Sector SPDR Fund, 70% of initial levels
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| Pricing date: | Jan. 5
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| Settlement date: | Jan. 9
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.55%
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| Cusip: | 09710PLG9
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