Published on 4/25/2024 in the Prospect News Structured Products Daily.
New Issue: BofA sells $1.74 million 8.8% contingent income issuer callable yield notes on indexes
Chicago, April 25 – BofA Finance LLC priced $1.74 million of contingent income issuer callable yield notes due Jan. 29, 2027 linked to the least performing of 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 8.8%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities may be called at par starting July 31, 2024 on any quarterly call determination date.
If the worst performing index gains or ends above its 70% threshold value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its threshold value.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income issuer callable yield notes
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
|
| Amount: | $1,738,000
|
| Maturity: | Jan. 29, 2027
|
| Coupon: | 8.8% annual rate, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing index finishes at or above its 70% threshold value, par; 1% loss for every 1% that worst performing index declines if it finishes below its threshold value
|
| Call: | At par starting July 31, 2024 on any quarterly call determination date
|
| Initial levels: | 17,421.01 for Nasdaq, 1,978.331 for Russell, 4,890.97 for S&P
|
| Coupon barriers: | 12,194.71 for Nasdaq, 1,384.832 for Russell, 3,423.68 for S&P, 70% of initial levels
|
| Downside thresholds: | 12,194.71 for Nasdaq, 1,384.832 for Russell, 3,423.68 for S&P, 70% of initial levels
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 31
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 2.35%
|
| Cusip: | 09710PMK9
|
|
|
© 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.
