Published on 9/26/2023 in the Prospect News Structured Products Daily.
New Issue: BofA sells $806,000 contingent income buffered callable notes on Nasdaq, S&P, Russell
Chicago, Sept. 26 – BofA Finance LLC priced $806,000 of contingent income buffered issuer callable yield notes due March 26, 2024 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annual rate of 9.75% if each index closes at or above its threshold level, 80% of its initial level, on the observation date for that month.
After six months, the notes are callable at par on any monthly contingent coupon payment date at the option of the issuer.
The payout at maturity will be par if each index finishes at or above its 80% threshold level. Otherwise, investors will lose 1% for each 1% decline of the worst performer.
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 buffered issuer callable yield notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index and Russell 2000 index
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| Amount: | $806,000
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| Maturity: | March 26, 2024
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| Coupon: | 9.75% per year, payable monthly if each index closes at or above threshold level on the observation date for that month
|
| Price: | Par
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| Payout at maturity: | Par if each index finishes at or above threshold level; otherwise, 1% loss for each 1% decline of worst performer
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| Call: | After six months, at par on any monthly contingent coupon payment date at issuer’s option
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| Initial levels: | 3,789.93 for S&P, 11,637.79 for Nasdaq and 1,762.158 for Russell
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| Threshold levels: | 3,031.94 for S&P, 9,310.23 for Nasdaq and 1,409.726 for Russell, or 80% of initial levels
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| Pricing date: | Sept. 21, 2022
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| Settlement date: | Sept. 26, 2022
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.5%
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| Cusip: | 09709V2Y1
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