Published on 3/22/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $2.29 million contingent income issuer callable yield notes on two indexes
New York, March 22 – BofA Finance LLC priced $2.29 million of contingent income issuer callable yield notes due March 18, 2027 linked to the MSCI Emerging Markets index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.5%, paid quarterly, if each underlying index closes at or above its 60% coupon barrier on the related quarterly observation date.
The securities may be called at par on any quarterly determination date starting on Sept. 19, 2024.
If the worst performing index finishes at or above its 60% 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 index 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 indexes: | MSCI Emerging Markets index and Russell 2000 index
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| Amount: | $2,289,000
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| Maturity: | March 18, 2027
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| Coupon: | 7.5%, paid quarterly, if each underlying index closes at or above its 60% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its 60% threshold value, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call option: | At par on any quarterly determination date starting on Sept. 19, 2024
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| Initial levels: | 1,034.74 for MSCI Emerging Markets, 2,039.322 for Russell 2000
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| Downside thresholds: | 620.84 for MSCI Emerging Markets, 1,223.593 for Russell 2000, 60% of initial levels
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| Coupon barriers: | 620.84 for MSCI Emerging Markets, 1,223.593 for Russell 2000, 60% of initial levels
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| Pricing date: | March 15
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| Settlement date: | March 20
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| Agent: | BofA Securities, Inc.
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| Fees: | 1.75%
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| Cusip: | 09711BCF1
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