Published on 2/21/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $6.66 million callable contingent income securities on three indexes
New York, Feb. 21 – BofA Finance LLC priced $6.66 million of callable contingent income securities due Aug. 18, 2027 linked to the S&P 500 index, the Russell 2000 index and the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.15%, 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 on any quarterly call date.
At maturity, the payout will be par unless the worst performing index finishes below its 65% downside threshold, in which case investors will be fully exposed to the decline of that 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
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| Guarantor: | Bank of America Corp.
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| Issue: | Callable contingent income securities
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| Underlying indexes: | S&P 500 index, Russell 2000 index and MSCI EAFE index
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| Amount: | $6,658,000
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| Maturity: | Aug. 18, 2027
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| Coupon: | 8.15%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date
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| Price: | Par
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| 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 underlying index
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| Call option: | At par on any quarterly call date
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| Initial levels: | 2,214.71 for MSCI EAFE, 1,964.174 for Russell 2000, 4,953.17 for S&P 500
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| Downside thresholds: | 1,439.56 for MSCI EAFE, 1,276.713 for Russell 2000, 3,219.56 for S&P 500, 65% of initial levels
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| Coupon barriers: | 1,550.30 for MSCI EAFE, 1,374.922 for Russell 2000, 3,467.22 for S&P 500, 70% of initial levels
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| Pricing date: | Feb. 13
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| Settlement date: | Feb. 16
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| Agent: | BofA Securities, Inc.
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| Distributor: | Morgan Stanley Wealth Management
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| Fees: | 2%
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| Cusip: | 09710PVU7
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