Published on 2/2/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $905,000 9.65% contingent income issuer callable yield notes on indexes
Chicago, Feb. 2 – BofA Finance LLC priced $905,000 of contingent income issuer callable yield notes due May 14, 2026 linked to the least performing of the Dow Jones industrial average, MSCI Emerging Markets index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.65%, 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 starting Nov. 14, 2023 on any quarterly call date.
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 issuer callable yield notes
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Underlying indexes: | Dow Jones industrial average, MSCI Emerging Markets index and Russell 2000 index
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Amount: | $905,000
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Maturity: | May 14, 2026
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Coupon: | 9.65% annual rate, 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; 1% loss for every 1% that worst performing index declines if it finishes below its threshold value
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Call: | At par starting Nov. 14, 2023 on any quarterly call date
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Initial levels: | 33,561.81 for Dow, 982.24 for EM, 1,749.677 for Russell
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Coupon barriers: | 20,137.09 for Dow, 589.34 for EM, 1,049.806 for Russell, 60% of initial levels
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Downside thresholds: | 20,137.09 for Dow, 589.34 for EM, 1,049.806 for Russell, 60% of initial levels
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Pricing date: | May 9, 2023
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Settlement date: | May 12, 2023
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Agent: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 09709VWQ5
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