Published on 4/15/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $4.41 million contingent income autocallable yield notes on three indexes
New York, April 15 – BofA Finance LLC priced $4.41 million of contingent income autocallable yield notes due April 13, 2027 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 8%, paid quarterly, if each underlying index closes at or above its 65% 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 Oct. 8, 2024.
If the worst performing index finishes at or above its 65% 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, Nasdaq-100 index and Russell 2000 index
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| Amount: | $4.41 million
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| Maturity: | April 13, 2027
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| Coupon: | 8%, paid quarterly, if each underlying index closes at or above its 65% 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 65% threshold value, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call option: | Automatically at par if each index closes at or above its initial level on any quarterly observation date starting Oct. 8, 2024
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| Initial levels: | 5,046.05 for Euro Stoxx 50, 18,100.19 for Nasdaq-100, 2,073.713 for Russell 2000
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| Downside thresholds: | 3,279.93 for Euro Stoxx 50, 11,765.12 for Nasdaq-100, 1,347.913 for Russell 2000, 65% of initial levels
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| Coupon barriers: | 3,279.93 for Euro Stoxx 50, 11,765.12 for Nasdaq-100, 1,347.913 for Russell 2000, 65% of initial levels
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| Pricing date: | April 8
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| Settlement date: | April 11
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| Agent: | BofA Securities, Inc.
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| Fees: | 2.35%
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| Cusip: | 09711BNC6
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