Published on 3/8/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $660,000 26.75% contingent income callable yield notes on stocks
By Kiku Steinfeld
Chicago, March 8 – BofA Finance LLC priced $660,000 of contingent income issuer callable yield notes due Jan. 3, 2025 linked to the common stocks of Amazon.com, Inc., Chevron Corp. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 26.75%, paid monthly, if each underlying stock closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called starting Oct. 3, 2023 on any monthly call date.
If the worst performing stock 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 stock 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
|
Guarantor: | Bank of America Corp.
|
Issue: | Contingent income issuer callable yield notes
|
Underlying stocks: | Amazon.com, Inc., Chevron Corp. and Nvidia Corp.
|
Amount: | $660,000
|
Maturity: | Jan. 3, 2025
|
Coupon: | 26.75%, paid monthly, if each underlying stock closes at or above its 70% coupon barrier on the related monthly observation date
|
Price: | Par
|
Payout at maturity: | If worst performing stock finishes at or above its 60% threshold value, par; 1% loss for every 1% that worst performing stock declines if it finishes below its threshold value
|
Call: | Starting Oct. 3, 2023 on any monthly call date
|
Initial levels: | $129.04 for Amazon.com, $411.17 for Nvidia, $154.92 for Chevron
|
Downside thresholds: | $77.42 for Amazon.com, $246.70 for Nvidia, $92.95 for Chevron, 60% of initial level
|
Coupon barriers: | $90.33 for Amazon.com, $287.82 for Nvidia, $108.44 for Chevron, 70% of initial levels
|
Pricing date: | June 28, 2023
|
Settlement date: | July 3, 2023
|
Agent: | BofA Securities, Inc.
|
Fees: | 0.7%
|
Cusip: | 09711A5M6
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.