Published on 2/18/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $482,000 autocallable notes linked to Dow, Nasdaq-100
By Kiku Steinfeld
Chicago, Feb. 19 – BofA Finance LLC priced $482,000 of autocallable notes due June 28, 2027 linked to the least performing of the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will be called at par plus 10.75% per year if each index closes at or above its initial level on any semiannual call valuation date after one year.
The payout at maturity will be par plus 43% if each index finishes at or above its initial level.
If the least performing index falls but not below the 75% threshold level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the least performing index from its initial level.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Autocallable notes
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index
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| Amount: | $482,000
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| Maturity: | June 28, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at above initial level, par plus 43%; if least performing index falls by up to 25%, par; otherwise, investors will be fully exposed to the decline of the least performing index from its initial level
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| Call: | Automatically at par plus 10.75% per year if each index closes at or above initial level on any semiannual call valuation date after one year
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| Initial levels: | 33,727.43 for Dow, 14,891.48 for Nasdaq
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| Threshold levels: | 25,295.57 for Dow, 11,168.61 for Nasdaq; 75% of initial levels
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| Pricing date: | June 23, 2023
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| Settlement date: | June 28, 2023
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| Selling agent: | BofA Securities, Inc.
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| Fees: | 2%
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| Cusip: | 09711A3D8
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