Published on 3/20/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $2.5 million contingent income issuer callable yield notes on ETFs, index
New York, March 20 – BofA Finance LLC priced $2.5 million of contingent income issuer callable yield notes due March 11, 2027 linked to the Nasdaq-100 Technology Sector index, the VanEck Gold Miners ETF and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par on any monthly determination date starting on Sept. 12, 2024.
If the worst performing asset finishes at or above its 50% 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, VanEck Gold Miners ETF and iShares Russell 2000 ETF
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| Amount: | $2.5 million
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| Maturity: | March 11, 2027
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| Coupon: | 13%, paid monthly, if each underlier closes at or above its 70% 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 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 monthly determination date starting on Sept. 12, 2024
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| Initial levels: | 10,415.33 for Nasdaq-100 Technology Sector, $29.64 for VanEck Gold Miners ETF, $206.83 for iShares Russell 2000 ETF
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| Downside thresholds: | 5,207.67 for Nasdaq-100 Technology Sector, $14.82 for VanEck Gold Miners ETF, $103.42 for iShares Russell 2000 ETF, 50% of initial levels
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| Coupon barriers: | 7,290.73 for Nasdaq-100 Technology Sector, $20.75 for VanEck Gold Miners ETF, $144.78 for iShares Russell 2000 ETF, 70% of initial levels
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| Pricing date: | March 8
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| Settlement date: | March 13
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.4%
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| Cusip: | 09711B7M2
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