Published on 3/13/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $2.18 million contingent income issuer callable yield notes on indexes, ETF
New York, March 13 – BofA Finance LLC priced $2.18 million of contingent income issuer callable yield notes due March 11, 2026 linked to the Russell 2000 index, the S&P 500 index and the VanEck Oil Services ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.35%, paid quarterly, if each underlier closes at or above its 50% coupon barrier on the related quarterly observation date.
The securities may be called at par on any quarterly determination date starting on Sept. 11, 2024.
If the worst performing asset finishes at or above its 50% threshold value, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for every 1% that the worst performing asset declines from initial level.
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: | Russell 2000 index, S&P 500 index and VanEck Oil Services ETF
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| Amount: | $2,178,000
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| Maturity: | March 11, 2026
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| Coupon: | 8.35%, paid quarterly, if each underlier closes at or above its 50% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its 50% threshold value, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call option: | At par on any quarterly determination date starting on Sept. 11, 2024
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| Initial levels: | 2,068.089 for Russell 2000, 5,104.76 for S&P 500, $303.92 for VanEck Oil Services ETF
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| Downside thresholds: | 1,034.045 for Russell 2000, 2,552.38 for S&P 500, $151.96 for VanEck Oil Services ETF, 50% of initial levels
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| Coupon barriers: | 1,034.045 for Russell 2000, 2,552.38 for S&P 500, $151.96 for VanEck Oil Services ETF, 50% of initial levels
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| Pricing date: | March 6
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| Settlement date: | March 11
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| Agent: | BofA Securities, Inc.
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| Fees: | 1.75%
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| Cusip: | 09711B6V3
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