Published on 1/2/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.68 million contingent income autocallable yield notes on three indexes
New York, Jan. 2 – BofA Finance LLC priced $1.68 million of contingent income autocallable yield notes due June 26, 2025 linked to the Dow Jones industrial average, 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 10.8%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities may be called automatically at par if the closing level of each index is greater than or equal to its initial level on any quarterly observation date starting in June 2024.
If the notes have not been called, the payout at maturity will be par unless any index closes below its 75% downside threshold during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer declines from its 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 indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $1,677,000
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| Maturity: | June 26, 2025
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| Coupon: | 10.8%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless any index closes below its downside threshold during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer declines from its initial level
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| Call: | Automatically at par if the closing level of each index is greater than or equal to its initial level on any quarterly observation date starting in June 2024
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| Initial levels: | 37,404.35 for Dow Jones Industrial Average, 2,017.065 for Russell 2000 Index, 4,746.75 for S&P 500 Index
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| Downside thresholds: | 28,053.26 for Dow Jones Industrial Average, 1,512.799 for Russell 2000 Index, 3,560.06 for S&P 500 Index, 75% of initial levels
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| Coupon barriers: | 28,053.26 for Dow Jones Industrial Average, 1,512.799 for Russell 2000 Index, 3,560.06 for S&P 500 Index, 75% of initial levels
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 27
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| Agent: | BofA Securities, Inc.
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| Fees: | 0%
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| Cusip: | 09710PEE2
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