Published on 3/13/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.38 million contingent income issuer callable yield notes on indexes, ETF
New York, March 13 – BofA Finance LLC priced $1.38 million of contingent income issuer callable yield notes due Sept. 4, 2026 linked to the Nasdaq-100 Technology Sector index, the Russell 2000 index and the Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.5%, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly observation date.
The securities may be called at par on any monthly determination date starting on Sept. 6, 2024.
If the worst performing asset finishes at or above its 65% threshold value, the payout at maturity will be par. 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: | Nasdaq-100 Technology Sector index, Russell 2000 index and Technology Select Sector SPDR Fund
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| Amount: | $1,384,000
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| Maturity: | Sept. 4, 2026
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| Coupon: | 11.5%, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its 65% 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 monthly determination date starting on Sept. 6, 2024
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| Initial levels: | 10,606.23 for Nasdaq-100 Technology Sector, 2,076.395 for Russell 2000, $210.76 for Technology Select Sector SPDR Fund
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| Downside thresholds: | 6,894.05 for Nasdaq-100 Technology Sector, 1,349.657 for Russell 2000, $136.99 for Technology Select Sector SPDR Fund, 65% of initial level
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| Coupon barriers: | 7,954.67 for Nasdaq-100 Technology Sector, 1,557.296 for Russell 2000, $158.07 for Technology Select Sector SPDR Fund, 75% of initial levels
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| Pricing date: | March 1
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| Settlement date: | March 6
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.25%
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| Cusip: | 09711B4E3
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