Published on 4/17/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.76 million contingent income autocallable yield notes on index, ETFs
New York, April 17 – BofA Finance LLC priced $1.76 million of contingent income autocallable yield notes due April 2, 2026 linked to the Nasdaq-100 index, the VanEck Gold Miners ETF and the iShares 20+ Year Treasury Bond ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.75%, paid monthly, if each underlier closes at or above its 60% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if each underlier closes at or above its initial level on any quarterly observation date starting Sept. 30, 2024.
If the worst performing asset 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 asset 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: | Contingent income autocallable yield notes
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| Underlying assets: | Nasdaq-100 index, VanEck Gold Miners ETF and iShares 20+ Year Treasury Bond ETF
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| Amount: | $1,758,000
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| Maturity: | April 2, 2026
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| Coupon: | 8.75%, paid monthly, if each underlier closes at or above its 60% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its 60% threshold value, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call: | Automatically at par if each underlier closes at or above its initial level on any quarterly observation date starting Sept. 30, 2024
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| Initial levels: | 18,254.69 for Nasdaq-100, $31.62 for VanEck Gold Miners ETF, $94.62 for iShares 20+ Year Treasury Bond ETF
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| Downside thresholds: | 10,952.81 for Nasdaq-100, $18.97 for VanEck Gold Miners ETF, $56.77 for iShares 20+ Year Treasury Bond ETF, 60% of initial levels
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| Coupon barriers: | 10,952.81 for Nasdaq-100, 18.97 for VanEck Gold Miners ETF, 56.77 for iShares 20+ Year Treasury Bond ETF, 60% of initial levels
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| Pricing date: | March 28
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| Settlement date: | April 3
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| Agent: | BofA Securities, Inc.
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| Fees: | 2.85%
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| Cusip: | 09711BDT0
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