Published on 1/11/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $26.73 million trigger callable yield notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Jan. 11 – BofA Finance LLC priced $26.73 million of 7.64% trigger callable yield notes due April 10, 2025 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on any monthly call date after three months.
The payout at maturity will be par unless any index finishes below its 65% downside threshold level, in which case investors will lose 1% for each 1% decline of the worst performer from its initial level.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. and UBS Financial Services Inc. are the agents.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Trigger callable yield notes
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $26,729,500
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Maturity: | April 10, 2025
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Coupon: | 7.64% per year, payable monthly
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Price: | Par of $10
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Payout at maturity: | Par unless any index finishes below downside threshold, in which case 1% loss for each 1% decline worst performer from initial level
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Call option: | At par on any monthly evaluation date after three months
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Initial levels: | 1,951.142 for Russell, 4,697.24 for S&P
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Downside thresholds: | 1,268.242 for Russell, 3,053.21 for S&P; 65% of initial levels
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Pricing date: | Jan. 5
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Settlement date: | Jan. 9
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Agents: | BofA Securities, Inc. and UBS Financial Services Inc.
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Fees: | 1%
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Cusip: | 09710M616
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