Published on 4/26/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $2.88 million contingent income issuer callable yield notes on three indexes
New York, April 26 – BofA Finance LLC priced $2.88 million of contingent income issuer callable yield notes due April 22, 2027 linked to the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.65%, paid semiannually, if each underlying index closes at or above its 60% coupon barrier on the related semiannual observation date.
The securities may be called at par on any semiannual determination date.
If the worst performing index finishes at or above its 60% 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 index declines from initial level.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income issuer callable yield notes
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
|
| Amount: | $2,881,000
|
| Maturity: | April 22, 2027
|
| Coupon: | 7.65%, paid semiannually, if each underlying index closes at or above its 60% coupon barrier on the related semiannual observation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing index finishes at or above its 60% threshold value, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
|
| Call option: | At par on any semiannual determination date
|
| Initial levels: | 17,037.65 for Nasdaq-100, 1,947.656 for Russell 2000, 4,967.23 for S&P 500
|
| Downside thresholds: | 10,222.59 for Nasdaq-100, 1,168.594 for Russell 2000, 2,980.34 for S&P 500, 60% of initial levels
|
| Coupon barriers: | 10,222.59 for Nasdaq-100, 1,168.594 for Russell 2000, 2,980.34 for S&P 500, 60% of initial levels
|
| Pricing date: | April 19
|
| Settlement date: | April 24
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 1.5%
|
| Cusip: | 09711BHQ2
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
