Published on 2/27/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $541,000 issuer callable yield notes linked to ETFs
Chicago, Feb. 27 – BofA Finance LLC priced $541,000 of contingent income issuer callable yield notes due Jan. 22, 2027 linked to the least performing of the Invesco QQQ Trust, Series 1, iShares Russell 2000 ETF and SPDR Euro Stoxx 50 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.65%, paid quarterly, if each underlier closes at or above its 75% coupon barrier on the related quarterly observation date. Previously unpaid coupons will also be paid.
The securities may be called at par starting Oct. 22, 2024 on any quarterly call date.
If the worst performing asset gains or ends above its 65% threshold value the payout at maturity will be par plus any contingent coupon. Investors will lose 1% for every 1% that the worst performing asset 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 assets: | Invesco QQQ Trust, Series 1, iShares Russell 2000 ETF and SPDR Euro Stoxx 50 ETF
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| Amount: | $541,000
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| Maturity: | Jan. 22, 2027
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| Coupon: | 9.65% annual rate, paid quarterly, if each underlier closes at or above its 75% coupon barrier on the related quarterly observation date; previously unpaid coupons will also be paid
|
| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its 65% threshold value, par; 1% loss for every 1% that worst performing asset declines if it finishes below its threshold value
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| Call: | At par starting Oct. 22, 2024 on any quarterly call date
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| Initial levels: | $407.21 for Invesco, $45.80 for Stoxx ETF, $189.48 for Russell ETF
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| Coupon barriers: | $305.41 for Invesco, $34.35 for Stoxx ETF, $142.11 for Russell ETF, 75% of initial levels
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| Downside thresholds: | $264.69 for Invesco, $29.77 for Stoxx ETF, $123.16 for Russell ETF, 65% of initial levels
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| Pricing date: | Jan. 17
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| Settlement date: | Jan. 22
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.25%
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| Cusip: | 09710PGC4
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