Published on 9/8/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.53 million contingent income autocallable yield notes on Zscaler
New York, Sept. 8 – BofA Finance LLC priced $1.53 million of contingent income autocallable yield notes due Sept. 4, 2026 linked to the common stock of Zscaler, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.25%, paid monthly, if the underlying stock closes at or above its 60% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if the stock closes at or above its call level, 90% of initial level, on any monthly determination date starting in December 2023.
If the stock 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 stock 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 autocallable yield notes
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| Underlying stock: | Zscaler, Inc.
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| Amount: | $1,533,000
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| Maturity: | Sept. 4, 2026
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| Coupon: | 11.25%, paid monthly, if the underlying stock closes at or above its 60% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above its 50% threshold value, par; otherwise, 1% loss for every 1% that stock declines from initial level
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| Call: | Automatically at par if the stock closes at or above its call level on any monthly determination date starting in December 2023
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| Initial level: | $158.38
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| Call level: | $142.54, 90% of initial level
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| Downside threshold: | $79.19, 50% of initial level
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| Coupon barrier: | $95.03, 60% of initial level
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| Pricing date: | Sept. 1
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| Settlement date: | Sept. 7
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| Agent: | BofA Securities, Inc.
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| Fees: | 3.5%
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| Cusip: | 09711AKR8
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