Published on 4/4/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.01 million 12% contingent income issuer callable yield notes on indexes, ETF
New York, April 4 – BofA Finance LLC priced $1.01 million of contingent income issuer callable yield notes due April 4, 2028 linked to the Nasdaq-100 index, Russell 2000 index and VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12%, paid quarterly, if each underlier closes at or above its 50% coupon barrier on the related quarterly observation date.
The securities may be called starting April 4, 2024 on any quarterly call determination date.
If the worst performing asset gains or ends above its 50% threshold value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes below its threshold value.
The notes are guaranteed by Bank of America Corp.
BofA Securities 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 index, Russell 2000 index and VanEck Gold Miners ETF
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Amount: | $1,005,000
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Maturity: | April 4, 2028
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Coupon: | 12%, 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 50% threshold value, par; 1% loss for every 1% that worst performing asset declines if it finishes below its threshold value
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Call: | Starting April 4, 2024 on any quarterly call determination date
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Initial levels: | 12,963.14 for Nasdaq-100 Index, 1,768.383 for Russell 2000 Index, $32.52 for VanEck Gold Miners ETF
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Downside thresholds: | 6,481.57 for Nasdaq-100 Index, 884.192 for Russell 2000 Index, $16.26 for VanEck Gold Miners ETF, 50% of initial level
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Coupon barriers: | 6,481.57 for Nasdaq-100 Index, 884.192 for Russell 2000 Index, $16.26 for VanEck Gold Miners ETF, 50% of initial levels
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Pricing date: | March 30
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Settlement date: | April 4
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Agent: | BofA Securities
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Fees: | 0.5%
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Cusip: | 09709VMN3
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