Published on 10/24/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $45.35 million fixed-income issuer callable yield notes on indexes
Chicago, Oct. 24 – BofA Finance LLC priced $45.35 million of fixed-income issuer callable yield notes due Oct. 23, 2024 linked to the least performing of the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid monthly.
The securities may be called at par starting after six months on any monthly call date.
If all three indexes finish above their 70% threshold value, the payout at maturity will be par. Otherwise, investors will be fully exposed to the losses of the worst performer.
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: | Fixed-income issuer callable yield notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $45,346,000
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Maturity: | Oct. 23, 2024
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Coupon: | 10% annual rate, paid monthly
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Price: | Par
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Payout at maturity: | Par if all three indexes close above threshold values; otherwise, full exposure to losses of worst performer
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Call: | At par starting after six months on any monthly call date
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Initial levels: | 14,909.26 for Nasdaq, 1,728.809 for Russell, 4,314.60 for S&P
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Downside thresholds: | 10,436.48 for Nasdaq, 1,210.166 for Russell, 3,020.22 for S&P, 70% of initial levels
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Pricing date: | Oct. 18
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Settlement date: | Oct. 23
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Agent: | BofA Securities, Inc.
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Fees: | 0.25%
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Cusip: | 09711AQY7
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