Published on 4/28/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $10 million 18.4% contingent income autocallable yield notes on indexes, ETF
New York, April 28 – BofA Finance LLC priced $10 million of contingent income autocallable yield notes due July 25, 2024 linked to the Nasdaq-100 index, Russell 2000 index and VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 18.4%, paid monthly, if each underlier closes at or above its 65% coupon barrier on the related monthly observation date.
The securities will be called automatically starting in October 2023 at par on any quarterly call determination date if each asset closes at or above its initial level.
If none of the assets closes below the 65% threshold value during the life of the notes the payout at maturity will be par plus the contingent coupon. Otherwise investors will lose 1% for every 1% that the worst performing asset declines.
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 assets: | Nasdaq-100 index, Russell 2000 index and VanEck Gold Miners ETF
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| Amount: | $10 million
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| Maturity: | July 25, 2024
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| Coupon: | 18.4%, paid monthly, if each underlier closes at or above its 65% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If none of the assets close below the 65% threshold value during the life of the notes, par; otherwise 1% loss for every 1% that worst performing asset declines
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| Call: | Automatically starting in October 2023 at par on any quarterly call determination date if each index closes at or above initial level
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| Initial levels: | 13,000.77 for Nasdaq-100 Index, 1,791.506 for Russell 2000 Index, $33.61 for VanEck Gold Miners ETF
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| Downside thresholds: | 8,450.5 for Nasdaq-100 Index, 1,164.479 for Russell 2000 Index, $21.85 for VanEck Gold Miners ETF, 65% of initial level
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| Coupon barriers: | 8,450.0 for Nasdaq-100 Index, 1,164.479 for Russell 2000 Index, $21.85 for VanEck Gold Miners ETF, 65% of initial levels
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| Pricing date: | April 21
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| Settlement date: | April 26
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| Agent: | BofA Securities
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| Fees: | 1%
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| Cusip: | 09709VT63
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