Published on 4/2/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.63 million 9% contingent income callable yield notes on Russell 2000
By Wendy Van Sickle
Columbus, Ohio, April 2 – BofA Finance LLC priced $3.63 million of contingent income issuer callable yield notes due March 25, 2027 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid semiannually, if the underlying index closes at or above its 70% coupon barrier on the related semiannual observation date.
The securities may be called at [r on any semiannual call date.
If the index gains or ends above its 70% threshold value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the index declines if it finishes below its threshold value.
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 index: | Russell 2000
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Amount: | $3,626,000
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Maturity: | March 25, 2027
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Coupon: | 9%, paid semiannually, if the underlying index closes at or above its 70% coupon barrier on the related semiannual observation date
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Price: | Par
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Payout at maturity: | If index finishes at or above its 70% threshold value, par; 1% loss for every 1% that index declines if it finishes below its threshold value
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Call option: | On any semiannual call date at par
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Initial level: | 2,071.998
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Downside threshold: | 1,450.399, 70% of initial level
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Coupon barrier: | 1,450.399, 70% of initial level
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Pricing date: | March 22
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Settlement date: | March 27
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Agent: | BofA Securities, Inc.
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Fees: | 0%
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Cusip: | 09711B5C6
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