Published on 4/26/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $2.23 million contingent income issuer callable yield notes on indexes, ETF
New York, April 26 – BofA Finance LLC priced $2.23 million of contingent income issuer callable yield notes due Oct. 22, 2026 linked to the Russell 2000 index, the S&P 500 index and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.35%, paid quarterly, if each underlier closes at or above its 50% coupon barrier on the related quarterly observation date.
The securities may be called at par on any quarterly determination date starting on April 24, 2025.
If the worst performing asset 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 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: | Russell 2000 index, S&P 500 index and Utilities Select Sector SPDR Fund
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| Amount: | $2,225,000
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| Maturity: | Oct. 22, 2026
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| Coupon: | 8.35%, paid quarterly, if each underlier closes at or above its 50% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its 60% 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 quarterly determination date starting on April 24, 2025
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| Initial levels: | 1,947.656 for Russell 2000, 4,967.23 for S&P 500, $65.43 for Utilities Select Sector SPDR Fund
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| Downside thresholds: | 1,168.594 for Russell 2000, 2,980.34 for S&P 500, $39.26 for Utilities Select Sector SPDR Fund, 60% of initial levels
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| Coupon barriers: | 973.828 for Russell 2000, 2,483.62 for S&P 500, $32.72 for Utilities Select Sector SPDR Fund, 50% of initial levels
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| Pricing date: | April 19
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| Settlement date: | April 24
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.1%
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| Cusip: | 09711BRL2
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