Published on 3/15/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.2 million 9.25% fixed income yield notes tied to S&P 500, Dollar General
By William Gullotti
Buffalo, N.Y., March 15 – BofA Finance LLC priced $1.2 million of 9.25% fixed income yield notes due March 12, 2026 linked to the performance of the S&P 500 index and the stock performance of Dollar General Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless any underlier finishes below its 55% threshold level, in which case investors will be fully exposed to the decline of the worst performer.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Fixed income yield notes
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Underlying assets: | S&P 500 index, Dollar General Corp.
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Amount: | $1.2 million
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Maturity: | March 12, 2026
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Coupon: | 9.25% annualized, payable monthly
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Price: | Par
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Payout at maturity: | If each underlier finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline of worst performer from initial level
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Initial levels: | 5,157.36 for S&P, $158.93 for Dollar General
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Downside thresholds: | 2,836.55 for S&P, $87.41 for Dollar General; 55% of initial levels
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Strike date: | March 7
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Pricing date: | March 8
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Settlement date: | March 13
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Selling agent: | BofA Securities, Inc.
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Fees: | 0.4%
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Cusip: | 09711BBD7
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