Published on 2/21/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $7 million contingent income autocallable yield notes on three indexes
New York, Feb. 21 – BofA Finance LLC priced $7 million of contingent income autocallable yield notes due Aug. 15, 2025 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 9%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par if the closing level of each index is greater than or equal to its initial level on any quarterly observation date starting in August 2024.
If the worst performing index finishes at or above its 75% threshold value, the payout at maturity will be par plus the contingent coupon.
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
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| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income autocallable yield notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $7 million
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| Maturity: | Aug. 15, 2025
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| Coupon: | 9%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its 75% threshold value, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call: | Automatically at par if the closing level of each index is greater than or equal to its initial level on any quarterly observation date starting in August 2024
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| Initial levels: | 17,962.40 for Nasdaq-100, 2,009.992 for Russell 2000, 5,026.61 for S&P 500
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| Downside thresholds: | 13,471.80 for Nasdaq-100, 1,507.494 for Russell 2000, 3,769.96 for S&P 500, 75% of initial levels
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| Coupon barriers: | 13,471.80 for Nasdaq-100, 1,507.494 for Russell 2000, 3,769.96 for S&P 500, 75% of initial levels
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| Strike date: | Feb. 9
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| Pricing date: | Feb. 12
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| Settlement date: | Feb. 15
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| Agent: | BofA Securities, Inc.
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| Fees: | 1.8%
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| Cusip: | 09710PWT9
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