Published on 7/12/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $9.36 million contingent income issuer callable yield notes on index, funds
New York, July 12 – BofA Finance LLC priced $9.36 million of contingent income issuer callable yield notes due July 2, 2026 linked to the iShares MSCI EAFE ETF, Russell 2000 index and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of ,13.1% paid quarterly, if each underlier closes at or above its 62% coupon barrier on the related quarterly observation date.
The securities may be called starting Jan. 2, 2024 on any quarterly call date.
If the worst performing asset 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 asset declines if it finishes below its threshold value.
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 assets: | iShares MSCI EAFE ETF, Russell 2000 index and SPDR S&P Regional Banking ETF
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| Amount: | $9,355,000
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| Maturity: | July 2, 2026
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| Coupon: | 13.1%, paid quarterly, if each underlier closes at or above its 62% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its 60% threshold value, par; 1% loss for every 1% that worst performing asset declines if it finishes below its threshold value
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| Call: | Starting Jan. 2, 2024 on any quarterly call date
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| Initial levels: | 1,849.930 for Russell 2000 Index, $40.76 for SPDR S&P Regional Banking ETF, $71.67 for iShares MSCI EAFE ETF
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| Downside thresholds: | 1,109.958 for Russell 2000 Index, $24.46 for SPDR S&P Regional Banking ETF, $43.00 for iShares MSCI EAFE ETF, 60% of initial level
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| Coupon barriers: | 1,146.957 for Russell 2000 Index, $25.27 for SPDR S&P Regional Banking ETF, $44.44 for iShares MSCI EAFE ETF, 62% of initial levels
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| Pricing date: | June 27
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| Settlement date: | June 30
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| Agent: | BofA Securities, Inc.
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| Fees: | 1.75%
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| Cusip: | 09711A5A2
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