Published on 4/25/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $13.12 million 8.8% callable contingent income notes on indexes
New York, April 25 – BofA Finance LLC priced $13.12 million of callable contingent income securities due April 23, 2026 linked to S&P 500 index, Russell 2000 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.8%, paid quarterly, if each underlying index closes at or above its 65% coupon barrier every day that quarter.
The securities may be called starting July 24 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 65% downside threshold in which case investors will be fully exposed to the decline of the worst performing index.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent. Morgan Stanley will act as distributor.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Callable contingent income securities
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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| Amount: | $13,123,000
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| Maturity: | April 23, 2026
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| Coupon: | 8.8%, paid quarterly, if each underlying index closes at or above its 65% coupon barrier every day that quarter
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing index
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| Call: | Starting July 24 at par on any quarterly call date
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| Initial levels: | 17,037.65 for Nasdaq-100, 1,947.656 for Russell 2000, 4,967.23 for S&P 500
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| Downside thresholds: | 11,074.47 for Nasdaq-100, 1,265.976 for Russell 2000, 3,228.70 for S&P 500, 65% of initial levels
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| Coupon barriers: | 11,074.47 for Nasdaq-100, 1,265.976 for Russell 2000, 3,228.70 for S&P 500, 65% 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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| Distributor: | Morgan Stanley
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| Fees: | 2%
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| Cusip: | 09711BQG4
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