Published on 7/13/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $6.41 million contingent income issuer callable yield notes tied to Russell, S&P
New York, July 13 – BofA Finance LLC priced $6.41 million of contingent income issuer callable yield notes due Oct. 1, 2024 linked to 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 8.5%, paid quarterly, if each underlying index closes at or above its 60% coupon barrier on the related quarterly observation date.
The securities may be called at par on any quarterly call date.
If the worst performing index finishes at or above its 60% 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: | Russell 2000 index and S&P 500 index
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| Amount: | $6.41 million
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| Maturity: | Oct. 1, 2024
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| Coupon: | 8.5%, paid quarterly, if each underlying index closes at or above its 60% coupon barrier on the related quarterly 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; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call option: | Starting Sept. 29 on any quarterly call date
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| Initial levels: | 1,823.260 for Russell 2000 Index, 4,328.82 for S&P 500 Index
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| Downside thresholds: | 1,093.956 for Russell 2000 Index, 2,597.29 for S&P 500 Index, 60% of initial levels
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| Coupon barriers: | 1,093.956 for Russell 2000 Index, 2,597.29 for S&P 500 Index, 60% of initial levels
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| Strike date: | June 26
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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: | 0.5%
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| Cusip: | 09711A6W3
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