Published on 9/6/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.01 million contingent income autocallable yield notes on three indexes
New York, Sept. 6 – BofA Finance LLC priced $1.01 million of contingent income autocallable yield notes due Sept. 5, 2028 linked to the Dow Jones industrial average, 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 6.25%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par if the closing level of each index is greater than or equal to its initial level on any quarterly observation date starting in August 2024.
If the worst performing index finishes at or above its 70% 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 autocallable 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: | $1,009,000
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| Maturity: | Sept. 5, 2028
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| Coupon: | 6.25%, paid quarterly, if each underlying index closes at or above its 70% 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 70% threshold value, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call: | Automatically at par if the closing level of each index is greater than or equal to its initial level on any quarterly observation date starting in August 2024
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| Initial levels: | 34,890.24 for Dow Jones Industrial Average, 1,903.213 for Russell 2000 Index, 4,514.87 for S&P 500 Index
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| Downside thresholds: | 24,423.17 for Dow Jones Industrial Average, 1,332.249 for Russell 2000 Index, 3,160.41 for S&P 500 Index, 70% of initial levels
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| Coupon barriers: | 24,423.17 for Dow Jones Industrial Average, 1,332.249 for Russell 2000 Index, 3,160.41 for S&P 500 Index, 70% of initial levels
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| Pricing date: | Aug. 30
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| Settlement date: | Sept. 5
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| Agent: | BofA Securities, Inc.
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| Fees: | 2.5%
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| Cusip: | 09711ADU9
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