Published on 4/1/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $10 million 9.5% contingent income autocallable yield notes on indexes
New York, April 1 – BofA Finance LLC priced $10 million of contingent income autocallable yield notes due Sept. 30, 2025 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 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 75% coupon barrier on the related quarterly observation date.
The securities may be called automatically at par on any quarterly observation date after six months if each index closes at or above its initial level.
If the worst performing index gains or ends above its 75% 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, Russell 2000 index and S&P 500 index
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| Amount: | $10 million
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| Maturity: | Sept. 30, 2025
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| Coupon: | 9.5%, 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; 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 on quarterly observation date after six months if each index closes at or above initial level
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| Initial levels: | 18,277.06 for Nasdaq-100, 2,074.163 for Russell 2000, 5,218.19 for S&P 500
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| Downside thresholds: | 13,707.80 for Nasdaq-100, 1,555.622 for Russell 2000, 3,913.64 for S&P 500, 75% of initial level
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| Coupon barriers: | 13,707.80 for Nasdaq-100, 1,555.622 for Russell 2000, 3,913.64 for S&P 500, 75% of initial levels
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| Pricing date: | March 26
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| Settlement date: | March 28
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| Agent: | BofA Securities, Inc.
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| Fees: | 1.8%
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| Cusip: | 09711BH74
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