Published on 4/23/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.64 million contingent income autocallables tied to three indexes
New York, April 23 – BofA Finance LLC priced $3.64 million of contingent income autocallable securities due April 22, 2026 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.75%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any quarterly call determination date.
At maturity, the payout will be par unless the worst performing index finishes below its 75% downside threshold level, in which case investors will be fully exposed to the decline of the worst performing index.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent. Morgan Stanley Wealth Management will act as distributor.
Issuer: | BofA Finance LLC
|
Guarantor: | Bank of America Corp.
|
Issue: | Contingent income autocallable securities
|
Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
|
Amount: | $3,635,000
|
Maturity: | April 22, 2026
|
Coupon: | 8.75%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date
|
Price: | Par
|
Payout at maturity: | Par unless the worst performing index finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing index
|
Call: | Automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any quarterly call determination date
|
Initial levels: | 4,914.13 for Euro Stoxx 50, 1,947.947 for Russell 2000, 5,022.21 for S&P 500
|
Downside thresholds: | 3,685.60 for Euro Stoxx 50, 1,460.960 for Russell 2000, 3,766.66 for S&P 500, 75% of initial levels
|
Coupon barriers: | 3,685.60 for Euro Stoxx 50, 1,460.960 for Russell 2000, 3,766.66 for S&P 500, 75% of initial levels
|
Pricing date: | April 17
|
Settlement date: | April 22
|
Agent: | BofA Securities, Inc.
|
Distributor: | Morgan Stanley Wealth Management
|
Fees: | 2%
|
Cusip: | 09711BNG7
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.