Published on 3/21/2024 in the Prospect News Structured Products Daily.
New Issue: BofA sells $2.23 million contingent income issuer callable yield notes on indexes, ETF
Chicago, March 21 – BofA Finance LLC priced $2.23 million of contingent income issuer callable yield notes due March 5, 2026 linked to the least performing of the Nasdaq-100 Technology Sector index, Russell 2000 index and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.25%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par starting on Sept. 6, 2024 and on any subsequent determination date.
If the worst performing asset gains or ends above its 60% threshold value the payout at maturity will be par plus any contingent coupon. Investors will lose 1% for every 1% that the worst performing asset 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
|
| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income issuer callable yield notes
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| Underlying assets: | Nasdaq-100 Technology Sector index, Russell 2000 index and SPDR S&P Regional Banking ETF
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| Amount: | $2,225,000
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| Maturity: | March 5, 2026
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| Coupon: | 13.25% annual rate, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing asset finishes at or above its 60% threshold value, par; 1% loss for every 1% that worst performing asset declines if it finishes below its threshold value
|
| Call: | At par starting on Sept. 6, 2024 and on any subsequent determination date
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| Initial levels: | 10,606.23 for tech index, 2,076.395 for Russell, $47.61 for SPDR S&P Regional Banking ETF
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| Coupon barriers: | 7,424.36 for tech index, 1,453.477 for Russell, $33.33 for banking ETF, 70% of initial levels
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| Downside thresholds: | 6,363.74 for tech index, 1,245.837 for Russell, $28.57 for banking ETF, 60% of initial levels
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| Pricing date: | March 1
|
| Settlement date: | March 6
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| Agent: | BofA Securities, Inc.
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| Fees: | 1%
|
| Cusip: | 09711B5W2
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