Published on 3/17/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.82 million 12.25% contingent income issuer callable yield notes on indexes
New York, March 17 – BofA Finance LLC priced $1.82 million of contingent income issuer callable yield notes due Sept. 17, 2026 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.25%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date.
The securities may be called starting Sept. 18, 2023 on any monthly call determination date.
If the worst performing index gains or ends above its 65% 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 issuer 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: | $1,815,000
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Maturity: | Sept. 17, 2026
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Coupon: | 12.25%, paid monthly, if each underlying index 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 index finishes at or above its 65% 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: | Starting Sept. 18, 2023 on any monthly call determination date
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Initial levels: | 11,923.17 for Nasdaq-100 Index, 1,744.302 for Russell 2000 Index, 3,855.76 for S&P 500 Index
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Downside thresholds: | 7,750.06 for Nasdaq-100 Index, 1,133.796 for Russell 2000 Index, 2,506.24 for S&P 500 Index, 65% of initial level
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Coupon barriers: | 8,942.38 for Nasdaq-100 Index, 1,308.227 for Russell 2000 Index, 2,891.82 for S&P 500 Index, 75% of initial levels
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Pricing date: | March 13
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Settlement date: | March 16
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Agent: | BofA Securities
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Fees: | 0.25%
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Cusip: | 09709VLM6
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