Published on 4/4/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $60.14 million Trigger PLUS linked to S&P 500
New York, April 4 – BofA Finance LLC priced $60.14 million of 0% Trigger PLUS due April 2, 2030 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 105.8% of the index return. Investors will receive par if the index return is negative but ends at or above the 70% trigger and will lose 1% for every 1% decline if it ends below the trigger level.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent. Morgan Stanley will act as distributor.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Trigger PLUS
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Underlying index: | S&P 500 index
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Amount: | $60,136,000
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Maturity: | April 2, 2030
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 105.8% of index return; par if index declines but finishes at or above trigger level; 1% loss for every 1% that index declines if it finishes below trigger level
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Initial level: | 5,254.35
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Trigger level: | 3,678.05, 70% of initial level
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Upside leverage: | 105.8%
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Cap: | None
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Pricing date: | March 28
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Settlement date: | April 3
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Agent: | BofA Securities, Inc.
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Distributor: | Morgan Stanley
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Fees: | 3.5%
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Cusip: | 09711BHC3
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