Published on 4/23/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $2.74 million 7.65% fixed income autocallable yield notes on Russell, S&P
New York, April 23 – BofA Finance LLC priced $2.74 million of fixed income autocallable yield notes due May 22, 2025 linked to 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 monthly.
The securities will be called automatically at par if each index closes at or above its initial level on any quarterly observation date starting Oct. 17, 2024.
If the worst performing index finishes at or above its 70% threshold value, the payout at maturity will be par plus the fixed 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
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| Guarantor: | Bank of America Corp.
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| Issue: | Fixed income autocallable yield notes
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $2,738,000
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| Maturity: | May 22, 2025
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| Coupon: | 7.65%, paid monthly
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its 70% threshold value, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call: | Automatically at par if each index closes at or above its initial level on any quarterly observation date starting Oct. 17, 2024
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| Initial levels: | 1,947.947 for Russell 2000, 5,022.21 for S&P 500
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| Downside thresholds: | 1,363.563 for Russell 2000, 3,515.55 for S&P 500, 70% of initial levels
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| Pricing date: | April 17
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| Settlement date: | April 22
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| Agent: | BofA Securities, Inc.
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| Fees: | 0%
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| Cusip: | 09711BMG8
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