Chicago, March 16 – BofA Finance LLC priced $1.16 million of contingent income issuer callable yield notes due March 13, 2025 linked to the stock of Energy Transfer LP, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13%, paid quarterly, if the underlying stock closes at or above its 65% coupon barrier on the related quarterly observation date.
The securities may be called at par starting Sept. 14, 2023 on any quarterly call determination date.
If the stock gains or ends above its 60% threshold value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the stock 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 stock: | Energy Transfer LP
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Amount: | $1,162,000
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Maturity: | March 13, 2025
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Coupon: | 13% annual rate, paid quarterly, if the underlying stock closes at or above its 65% coupon barrier on the related quarterly observation date
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Price: | Par
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Payout at maturity: | If stock finishes at or above its 60% threshold value, par; 1% loss for every 1% that stock declines if it finishes below its threshold value
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Call: | At par starting Sept. 14, 2023 on any quarterly call determination date
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Initial level: | $12.90
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Coupon barrier: | $8.39, 65% of initial level
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Downside threshold: | $7.74, 60% of initial level
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Pricing date: | March 9
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Settlement date: | March 14
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Agent: | BofA Securities
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Fees: | 1.5%
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Cusip: | 09709VLN4
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