Published on 9/15/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $2.18 million 9.5% contingent coupon market-linked autocalls on indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 15 – BofA Finance LLC priced $2.18 million of market-linked securities – autocallable with contingent coupon and contingent downside due Aug. 29, 2024 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.5% paid monthly if the worst performing index closes at or above its 75% coupon barrier on the related valuation date.
The securities will be called automatically starting in February 2024 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date.
The payout at maturity will be par plus any contingent coupon.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. and Wells Fargo Securities, LLC are the agents.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Market-linked securities – autocallable with contingent coupon and contingent downside
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
|
| Amount: | $2,183,000
|
| Maturity: | Aug. 29, 2024
|
| Coupon: | 9.5% paid monthly if the worst performing index closes at or above its 75% coupon barrier on the related valuation date
|
| Price: | Par
|
| Payout at maturity: | Par plus any contingent coupon
|
| Call: | Automatically starting in February 2024 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date
|
| Initial levels: | 15,501.07 for Nasdaq-100 index, 1,899.676 for Russell 2000 index, 4,507.66 for S&P 500 index
|
| Coupon barriers: | 11,625.8025 for Nasdaq-100 index, 1,424.757 for Russell 2000 index, 3,380.745 for S&P 500 index, 75% of initial levels
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 6
|
| Agent: | BofA Securities, Inc. and Wells Fargo Securities, LLC
|
| Fees: | 1.575%
|
| Cusip: | 09711AEY0
|
|
|
© 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.
