Published on 3/20/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.52 million contingent income autocallable yield notes on three indexes
New York, March 20 – BofA Finance LLC priced $3.52 million of contingent income autocallable yield notes due Dec. 13, 2028 linked to the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.35%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if each index closes at or above its initial level on any quarterly observation date starting March 10, 2025.
If the worst performing index finishes at or above its 65% threshold value, the payout at maturity will be par. 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
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income autocallable yield notes
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
|
| Amount: | $3,517,000
|
| Maturity: | Dec. 13, 2028
|
| Coupon: | 7.35%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing index finishes at or above its 65% threshold value, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
|
| Call: | Automatically at par if each index closes at or above its initial level on any quarterly observation date starting March 10, 2025
|
| Initial levels: | 18,018.45 for Nasdaq-100, 2,082.713 for Russell 2000, 5,123.69 for S&P 500
|
| Downside thresholds: | 11,711.99 for Nasdaq-100, 1,353.763 for Russell 2000, 3,330.40 for S&P 500, 65% of initial levels
|
| Coupon barriers: | 13,513.84 for Nasdaq-100, 1,562.035 for Russell 2000, 3,842.77 for S&P 500, 75% of initial levels
|
| Pricing date: | March 8
|
| Settlement date: | March 13
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 3.65%
|
| Cusip: | 09711B4P8
|
|
|
|
|
© 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.
