Published on 6/14/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $2.38 million contingent income issuer callable yield notes on three indexes
New York, June 14 – BofA Finance LLC priced $2.38 million of contingent income issuer callable yield notes due June 1, 2029 linked to the Dow Jones industrial average, the 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 10.85%, 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 date starting May 31, 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, Inc. 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: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $2,382,000
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| Maturity: | June 1, 2029
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| Coupon: | 10.85%, paid semiannually, if each underlying index closes at or above its 75% coupon barrier on the related semiannual observation date
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| Price: | Par
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| 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
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| Call option: | At par on any semiannual date starting May 31, 2024
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| Initial levels: | 33,093.34 for Dow Jones Industrial Average, 1,773.022 for Russell 2000 Index, 4,205.45 for S&P 500 Index
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| Downside thresholds: | 24,820.01 for Dow Jones Industrial Average, 1,329.767 for Russell 2000 Index, 3,154.09 for S&P 500 Index, 75% of initial level
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| Coupon barriers: | 24,820.01 for Dow Jones Industrial Average, 1,329.767 for Russell 2000 Index, 3,154.09 for S&P 500 Index, 75% of initial levels
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| Pricing date: | May 26
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| Settlement date: | June 5
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| Agent: | BofA Securities, Inc.
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| Fees: | 0%
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| Cusip: | 09709VX68
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