Published on 9/2/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $221,000 5.5% contingent income autocallables on Nasdaq, Russell
By Kiku Steinfeld
Chicago, Sept. 5 – BofA Finance LLC priced $221,000 of contingent income autocallable yield notes due March 4, 2026 linked to the Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 5.5%, paid monthly, if each underlying index closes at or above its 60% coupon barrier on the related monthly observation date.
The securities may be called automatically at par if the level of each underlier is greater than or equal to its initial price on any monthly observation date starting August 2023.
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, Inc. 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 indexes: | Nasdaq-100 index and Russell 2000 index
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| Amount: | $221,000
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| Maturity: | March 4, 2026
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| Coupon: | 5.5%, paid monthly, if each underlying index closes at or above its 60% 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
|
| Call: | Automatically at par if the level of each underlier is greater than or equal to its initial price on any monthly observation date starting August 2023
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| Initial levels: | 12,057.79 for Nasdaq, 1,896.269 for Russell
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| Downside thresholds: | 7,234.67 for Nasdaq, 1,137.761 for Russell, 60% of initial level
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| Coupon barriers: | 7,234.67 for Nasdaq, 1,137.761 for Russell, 60% of initial levels
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| Pricing date: | Feb. 27, 2023
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| Settlement date: | March 3, 2023
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| Agent: | BofA Securities, Inc.
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| Fees: | 2%
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| Cusip: | 09709VFZ4
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