Published on 4/15/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $122,000 7.25% contingent income issuer callable yield notes on Nasdaq
Chicago, April 15 – BofA Finance LLC priced $122,000 of contingent income issuer callable yield notes due Jan. 22, 2027 linked to the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.25%, paid semiannually, if the underlying index closes at or above its 70% coupon barrier on the related semiannual observation date.
The securities may be called at par starting July 24, 2024 on any semiannual date.
If the index gains or ends above its 70% threshold value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the 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
|
| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income issuer callable yield notes
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| Underlying index: | Nasdaq-100 index
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| Amount: | $122,000
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| Maturity: | Jan. 22, 2027
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| Coupon: | 7.25% annual rate, paid semiannually, if the underlying index closes at or above its 70% coupon barrier on the related semiannual observation date
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above its 70% threshold value, par; 1% loss for every 1% that index declines if it finishes below its threshold value
|
| Call: | At par starting July 24, 2024 on any semiannual date
|
| Initial level: | 17,314.00
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| Downside threshold: | 12,119.80, 70% of initial level
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| Coupon barrier: | 12,119.80, 70% of initial level
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| Pricing date: | Jan. 19
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| Settlement date: | Jan. 24
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| Agent: | BofA Securities, Inc.
|
| Fees: | 1.5%
|
| Cusip: | 09710PK62
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