Published on 4/20/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.23 million 11.5% contingent income issuer callable yield notes on indexes
New York, April 20 – BofA Finance LLC priced $3.23 million of contingent income issuer callable yield notes due Jan. 5, 2028 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 11.5%, 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 on any quarterly call determination date.
If the worst performing index gains or ends above its 60% 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: | $3,228,000
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Maturity: | Jan. 5, 2028
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Coupon: | 11.5%, 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 60% 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 option: | On any quarterly call determination date
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Initial levels: | 13,181.35 for Nasdaq-100 Index, 1,802.484 for Russell 2000 Index, 4,109.31 for S&P 500 Index
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Downside thresholds: | 7,908.81 for Nasdaq-100 Index, 1,081.490 for Russell 2000 Index, 2,465.59 for S&P 500 Index, 60% of initial level
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Coupon barriers: | 9,886.01 for Nasdaq-100 Index, 1,351.863 for Russell 2000 Index, 3,081.98 for S&P 500 Index, 75% of initial levels
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Pricing date: | March 31
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Settlement date: | April 5
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Agent: | BofA Securities
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Fees: | 0.9%
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Cusip: | 09709VJX5
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