Published on 2/2/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3 million 14.7% contingent income autocallable yield notes on indexes, ETF
New York, Feb. 2 – BofA Finance LLC priced $3 million of contingent income autocallable yield notes due May 2, 2025 linked to the Russell 2000 index, S&P 500 index and VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.7%, paid monthly, if each underlier closes at or above its 80% coupon barrier on the related monthly observation date.
The securities may be called automatically at par if the level of each underlier is greater than or equal to its initial price on any quarterly call determination date.
If none of the assets closes below the 65% threshold value during the life of the notes the payout at maturity will be par plus the contingent coupon. Otherwise investors will lose 1% for every 1% that the worst performing asset declines.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income autocallable yield notes
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| Underlying assets: | Russell 2000 index, S&P 500 index and VanEck Gold Miners ETF
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| Amount: | $3 million
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| Maturity: | May 2, 2025
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| Coupon: | 14.7%, paid monthly, if each underlier closes at or above its 80% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If none of the assets close below the 65% threshold value during the life of the notes, par; otherwise 1% loss for every 1% that worst performing asset declines
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| Call: | Automatically at par if the level of each underlier is greater than or equal to its initial price on any quarterly call determination date
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| Initial levels: | 2,011.424 for Russell 2000, 4,927.93 for S&P 500, $28.36 for VanEck Gold Miners ETF
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| Downside thresholds: | 1,307.426 for Russell 2000, 3,203.15 for S&P 500, $18.43 for VanEck Gold Miners ETF, 65% of initial level
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| Coupon barriers: | 1,609.139 for Russell 2000, 3,942.34 for S&P 500, $22.69 for VanEck Gold Miners ETF, 80% of initial levels
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| Pricing date: | Jan. 29
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| Settlement date: | Feb. 1
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| Agent: | BofA Securities, Inc.
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| Fees: | 1%
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| Cusip: | 09710PQL3
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