Published on 4/6/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.19 million contingent income issuer callable yield notes on three indexes
New York, April 6 – BofA Finance LLC priced $3.19 million of contingent income issuer callable yield notes due April 3, 2029 linked to the Dow Jones industrial average, 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 11.2%, paid semiannually, if each underlying index closes at or above its 75% coupon barrier on the related semiannual observation date.
The securities may be called at par on any semiannual determination date starting April 3, 2024.
If the worst performing index finishes at or above its 75% threshold value, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines from initial level.
The notes are guaranteed by Bank of America Corp.
BofA Securities is the agent.
Issuer: | BofA Finance LLC
|
Guarantor: | Bank of America Corp.
|
Issue: | Contingent income issuer callable yield notes
|
Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
|
Amount: | $3,193,000
|
Maturity: | April 3, 2029
|
Coupon: | 11.2%, paid semiannually, if each underlying index closes at or above its 75% coupon barrier on the related semiannual observation date
|
Price: | Par
|
Payout at maturity: | If worst performing index finishes at or above its 75% threshold value, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
|
Call option: | At par on any semiannual determination date starting April 3, 2024
|
Initial levels: | 32,394.25 for Dow Jones Industrial Average, 1,752.632 for Russell 2000 Index, 3,971.27 for S&P 500 Index
|
Downside thresholds: | 24,295.69 for Dow Jones Industrial Average, 1,314.474 for Russell 2000 Index, 2,978.45 for S&P 500 Index, 75% of initial level
|
Coupon barriers: | 24,295.69 for Dow Jones Industrial Average, 1,314.474 for Russell 2000 Index, 2,978.45 for S&P 500 Index, 75% of initial levels
|
Pricing date: | March 28
|
Settlement date: | March 31
|
Agent: | BofA Securities
|
Fees: | None
|
|
Cusip: | 09709VLX2
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.