Published on 3/10/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.25 million 8.55% contingent income autocallables on Nasdaq, S&P
Chicago, March 11 – BofA Finance LLC priced $1.25 million of contingent income autocallable yield notes due Dec. 10, 2025 linked to the least performing of the Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.55%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically at par starting March 5, 2025 and on any subsequent monthly determination date if both indexes close above their initial levels.
If the worst performing index gains or ends above its 70% threshold value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its threshold value.
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 and S&P 500 index
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Amount: | $1.25 million
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Maturity: | Dec. 10, 2025
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Coupon: | 8.55% annual rate, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its 70% threshold value, par; 1% loss for every 1% that worst performing index declines if it finishes below its threshold value
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Call: | Automatically at par starting after one year and on any subsequent monthly determination date if both indexes finish above their initial levels
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Initial levels: | 17,897.87 for Nasdaq, 5,078.65 for S&P
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Coupon barriers: | 12,528.51 for Nasdaq, 3,555.06 for S&P, 70% of initial levels
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Downside thresholds: | 12,528.51 for Nasdaq, 3,555.06 for S&P, 70% of initial level
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Pricing date: | March 5
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Settlement date: | March 8
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Agent: | BofA Securities, Inc.
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Fees: | 0.25%
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Cusip: | 09711B6L5
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