Published on 3/5/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $2.17 million contingent income autocallable yield notes on three tech stocks
New York, March 5 – BofA Finance LLC priced $2.17 million of contingent income autocallable yield notes due Feb. 5, 2027 linked to the common stocks of Adobe Inc., Intel Corp. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15.8%, paid monthly, if each underlying stock closes at or above its 60% coupon barrier on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if each stock closes at or above its initial level on any monthly determination date starting in February 2025.
If the worst performing stock finishes at or above its 60% 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 stock 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 stocks: | Adobe Inc., Intel Corp. and Netflix, Inc.
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| Amount: | $2.17 million
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| Maturity: | Feb. 5, 2027
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| Coupon: | 15.8%, paid monthly, if each underlying stock closes at or above its 60% coupon barrier on the related monthly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above its 60% threshold value, par; otherwise, 1% loss for every 1% that worst performing stock declines from initial level
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| Call: | Automatically at par if each stock closes at or above its initial level on any monthly determination date starting in February 2025
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| Initial levels: | $634.76 for Adobe, $42.60 for Intel, $564.64 for Netflix
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| Downside thresholds: | $380.86 for Adobe, $25.56 for Intel, $338.78 for Netflix, 60% of initial levels
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| Coupon barriers: | $380.86 for Adobe, $25.56 for Intel, $338.78 for Netflix, 60% of initial levels
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| Pricing date: | Feb. 2
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| Settlement date: | Feb. 7
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| Agent: | BofA Securities, Inc.
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| Fees: | 0%
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| Cusip: | 09710PTD8
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