Published on 3/11/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1 million contingent income issuer callable yield notes on three indexes
New York, March 11 – BofA Finance LLC priced $1 million of contingent income issuer callable yield notes due Feb. 28, 2029 linked to the Euro Stoxx 50 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.5%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities may be called at par on any quarterly call determination date.
If the worst performing index finishes at or above its 60% threshold value, the payout at maturity will be par. 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 issuer callable yield notes
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Underlying indexes: | Euro Stoxx 50 index, Nasdaq-100 index and Russell 2000 index
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Amount: | $1 million
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Maturity: | Feb. 28, 2029
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Coupon: | 9.5%, paid quarterly, if each underlying index closes at or above its 70% 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 60% threshold value, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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Call option: | At par on any quarterly call determination date
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Initial levels: | 4,872.57 for Euro Stoxx 50, 17,937.61 for Nasdaq-100, 2,016.688 for Russell 2000
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Downside thresholds: | 2,923.54 for Euro Stoxx 50, 10,762.57 for Nasdaq-100, 1,210.013 for Russell 2000, 60% of initial levels
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Coupon barriers: | 3,410.80 for Euro Stoxx 50, 12,556.33 for Nasdaq-100, 1,411.682 for Russell 2000, 70% of initial levels
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Pricing date: | Feb. 23
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Settlement date: | Feb. 28
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Agent: | BofA Securities, Inc.
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Fees: | 0.75%
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Cusip: | 09710PXJ0
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