Published on 4/15/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.04 million contingent income issuer callable yield notes on three indexes
New York, April 15 – BofA Finance LLC priced $3.04 million of contingent income issuer callable yield notes due April 13, 2027 linked to the Dow Jones industrial average, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.2%, paid monthly, if each underlying index closes at or above its 50% coupon barrier on the related monthly observation date.
The securities may be called at par on any monthly determination date starting on April 11, 2025.
If the worst performing index finishes at or above its 50% threshold value, the payout at maturity will be par plus the final 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: | Contingent income issuer callable yield notes
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Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and S&P 500 index
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Amount: | $3,036,000
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Maturity: | April 13, 2027
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Coupon: | 7.2%, paid monthly, if each underlying index closes at or above its 50% coupon barrier on the related monthly observation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its 50% threshold value, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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Call option: | At par on any monthly determination date starting on April 11, 2025
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Initial levels: | 38,892.80 for Dow Jones industrial average, 18,100.19 for Nasdaq-100, 5,202.39 for S&P 500
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Downside thresholds: | 19,446.40 for Dow Jones industrial average, 9,050.10 for Nasdaq-100, 2,601.20 for S&P 500, 50% of initial levels
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Coupon barriers: | 19,446.40 for Dow Jones industrial average, 9,050.10 for Nasdaq-100, 2,601.20 for S&P 500, 50% of initial levels
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Pricing date: | April 8
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Settlement date: | April 11
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Agent: | BofA Securities, Inc.
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Fees: | 0.15%
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Cusip: | 09711BAA4
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