Published on 1/22/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $11.18 million 11% contingent income buffered issuer callable yield notes on indexes, fund
New York, Jan. 22 – BofA Finance LLC priced $11.18 million of contingent income buffered issuer callable yield notes due July 21, 2026 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 11%, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly observation date.
The securities may be called starting on April 19 on any quarterly call date.
If the worst performing asset gains or ends above its 75% 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: | Russell 2000 index, S&P 500 index and Utilities Select Sector SPDR Fund
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| Amount: | $11,181,000
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| Maturity: | July 21, 2026
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| Coupon: | 11%, paid monthly, if each underlier closes at or above its 75% 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 75% threshold value, par; otherwise 1% loss for every 1% that worst performing asset declines below its threshold value
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| Call: | Starting on April 19 on any quarterly call date
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| Initial levels: | 1,927.304 for Russell 2000 Index, 4,765.98 for S&P 500 Index, $62.63 for Utilities Select Sector SPDR Fund
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| Downside thresholds: | 1,445.478 for Russell 2000 Index, 3,574.49 for S&P 500 Index, $46.97 for Utilities Select Sector SPDR Fund, 75% of initial level
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| Coupon barriers: | 1,445.478 for Russell 2000 Index, 3,574.49 for S&P 500 Index, $46.97 for Utilities Select Sector SPDR Fund, 75% of initial levels
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| Pricing date: | Jan. 16
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| Settlement date: | Jan. 19
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.05%
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| Cusip: | 09710PL61
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