Published on 1/22/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $6.41 million contingent buffered issuer callable yield notes on indexes, ETF
New York, Jan. 22 – BofA Finance LLC priced $6.41 million of contingent income buffered issuer callable yield notes due Jan. 22, 2026 linked to the Russell 2000 index, the S&P 500 index and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly observation date.
The securities may be called at par on any monthly call date starting July 19, 2024.
If the worst performing asset finishes at or above its 70% threshold value, the payout at maturity will be par. Otherwise, investors will lose 1.42857% for every 1% that the worst performing asset declines beyond 30%.
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: | $6,405,000
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| Maturity: | Jan. 22, 2026
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| Coupon: | 9%, 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 70% threshold value, par; otherwise, lose 1.42857% for every 1% that the worst performing asset declines beyond 30%
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| Call option: | At par on any monthly call date starting July 19, 2024
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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: | 1,349.113 for Russell 2000 Index, 3,336.19 for S&P 500 Index, $43.84 for Utilities Select Sector SPDR Fund, 70% of initial levels
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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: | 09710PND4
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