Published on 7/19/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.83 million contingent income issuer callable yield notes on indexes, ETF
New York, July 19 – BofA Finance LLC priced $1.83 million of contingent income issuer callable yield notes due July 16, 2025 linked to the iShares MSCI Emerging Markets ETF, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8%, paid quarterly, if each underlier closes at or above its 55% coupon barrier on the related quarterly observation date.
The securities may be called at par on any quarterly call date starting Jan. 17, 2024.
If the worst performing asset finishes at or above its 55% 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 its 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: | iShares MSCI Emerging Markets ETF, Nasdaq-100 index and Russell 2000 index
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| Amount: | $1,826,000
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| Maturity: | July 16, 2025
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| Coupon: | 8%, paid quarterly, if each underlier closes at or above its 55% 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 55% 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 call date starting Jan. 17, 2024
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| Initial levels: | 15,119.06 for Nasdaq-100 Index, 1,913.361 for Russell 2000 Index, $39.82 for iShares MSCI Emerging Markets ETF
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| Downside thresholds: | 8,315.48 for Nasdaq-100 Index, 1,052.349 for Russell 2000 Index, $21.90 for iShares MSCI Emerging Markets ETF, 55% of initial levels
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| Coupon barriers: | 8,315.48 for Nasdaq-100 Index, 1,052.349 for Russell 2000 Index, $21.90 for iShares MSCI Emerging Markets ETF, 55% of initial levels
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| Pricing date: | July 11
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| Settlement date: | July 13
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| Agent: | BofA Securities, Inc.
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| Fees: | 1.75%
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| Cusip: | 09711ABP2
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