Published on 12/2/2022 in the Prospect News Structured Products Daily.
New Issue: BofA prices $5.05 million contingent income callable notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 2 – BofA Finance LLC. priced $5.05 million of contingent income callable yield notes due May 3, 2024 linked to the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15.25%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the observation date.
The securities may be called at par on any monthly valuation date after three months.
If the worst performing index gains or ends above its 70% downside threshold the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing index declines from its initial level.
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 callable yield notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $5,054,000
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| Maturity: | May 3, 2024
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| Coupon: | 15.25%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the observation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call option: | At par on any monthly valuation date after three months
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| Initial levels: | 1,846.863 for Russell, 3,871.98 for S&P, 11,405.57 for Nasdaq
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| Downside thresholds: | 1,292.804 for Russell, 2,710.39 for S&P, 7,983.9 for Nasdaq, 70% of initial level
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| Coupon barriers: | 1,292.804 for Russell, 2,710.39 for S&P, 7,983.9 for Nasdaq, 70% of initial level
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| Pricing date: | Oct. 31
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| Settlement date: | Nov. 3
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.7%
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| Cusip: | 09709V6L5
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