Published on 4/16/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.07 million contingent income issuer callable yield notes on indexes, ETF
New York, April 16 – BofA Finance LLC priced $3.07 million of contingent income issuer callable yield notes due April 14, 2027 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 12.5%, 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 Oct. 15, 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: | $3.07 million
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| Maturity: | April 14, 2027
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| Coupon: | 12.5%, 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 Oct. 15, 2024
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| Initial levels: | 10,400.32 for Nasdaq-100 Technology Sector, 2,080.800 for Russell 2000, $207.25 for Technology Select Sector SPDR Fund
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| Downside thresholds: | 6,760.21 for Nasdaq-100 Technology Sector, 1,352.520 for Russell 2000, $134.71 for Technology Select Sector SPDR Fund, 65% of initial levels
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| Coupon barriers: | 7,800.24 for Nasdaq-100 Technology Sector, 1,560.600 for Russell 2000, $155.44 for Technology Select Sector SPDR Fund, 75% of initial levels
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| Pricing date: | April 9
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| Settlement date: | April 11
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.25%
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| Cusip: | 09711BLX2
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