Published on 4/7/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $5.52 million contingent income autocallable yield notes on Stoxx, Russell
New York, April 8 – BofA Finance LLC priced $5.52 million of contingent income autocallable yield notes due March 29, 2029 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.3%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par if each index closes at or above its initial level on any quarterly observation date starting March 25, 2025.
If the worst performing index finishes at or above its 75% 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 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 autocallable yield notes
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Underlying indexes: | Euro Stoxx 50 index and Russell 2000 index
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Amount: | $5,519,000
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Maturity: | March 29, 2029
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Coupon: | 8.3%, 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; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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Call: | Automatically at par if each index closes at or above its initial level on any quarterly observation date starting March 25, 2025
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Initial levels: | 5,044.19 for Euro Stoxx 50, 2,074.163 for Russell 2000
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Downside thresholds: | 3,783.14 for Euro Stoxx 50, 1,555.622 for Russell 2000, 75% of initial levels
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Coupon barriers: | 3,783.14 for Euro Stoxx 50, 1,555.622 for Russell 2000, 75% of initial levels
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Pricing date: | March 25
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Settlement date: | March 28
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Agent: | BofA Securities, Inc.
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Fees: | 3%
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Cusip: | 09711BB47
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