Published on 3/3/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.2 million 10% contingent income autocallable yield notes on Russell, S&P
New York, March 3 – BofA Finance LLC priced $3.2 million of contingent income autocallable yield notes due April 3, 2024 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annualized coupon of 10%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called automatically at par if the level of each underlier is greater than or equal to its initial initial level on any monthly determination date after six months.
If the worst performing 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 worst performing index declines if it finishes below its threshold value.
The notes are guaranteed by Bank of America Corp.
BofA Securities is the agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income autocallable yield notes
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $3.2 million
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| Maturity: | April 3, 2024
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| Coupon: | 10%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its 70% threshold value, par; 1% loss for every 1% that worst performing index declines if it finishes below its threshold value
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| Call: | Automatically at par if the level of each underlier is greater than or equal to its initial level on any monthly determination date after six months
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| Initial levels: | 1,896.991 for Russell 2000 Index, 3,970.15 for S&P 500 Index
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| Downside thresholds: | 1,327.894 for Russell 2000 Index, 2,779.11 for S&P 500 Index, 70% of initial levels
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| Coupon barriers: | 1,327.894 for Russell 2000 Index, 2,779.11 for S&P 500 Index, 70% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 3
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| Agent: | BofA Securities
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| Fees: | 0.5%
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| Cusip: | 09709VG42
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