Published on 4/26/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $5 million contingent income buffered issuer callable yield notes on indexes
New York, April 26 – BofA Finance LLC priced $5 million of contingent income buffered issuer callable yield notes due Oct. 23, 2025 linked to the Nasdaq-100 Technology Sector index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.25%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date.
The securities may be called at par on any monthly determination date starting on April 24, 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 1.3333333% for every 1% that the worst performing index declines 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 buffered issuer callable yield notes
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Underlying indexes: | Nasdaq-100 Technology Sector index, Russell 2000 index and S&P 500 index
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Amount: | $5 million
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Maturity: | Oct. 23, 2025
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Coupon: | 10.25%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly 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, 1.3333333% loss for every 1% that worst performing index declines below its threshold value
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Call option: | At par on any monthly determination date starting on April 24, 2025
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Initial levels: | 9,500.55 for Nasdaq-100 Technology Sector, 1,947.656 for Russell 2000, 4,967.23 for S&P 500
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Downside thresholds: | 7,125.41 for Nasdaq-100 Technology Sector, 1,460.742 for Russell 2000, 3,725.42 for S&P 500, 75% of initial levels
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Coupon barriers: | 7,125.41 for Nasdaq-100 Technology Sector, 1,460.742 for Russell 2000, 3,725.42 for S&P 500, 75% of initial levels
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Pricing date: | April 19
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Settlement date: | April 24
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Agent: | BofA Securities, Inc.
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Fees: | 0.08%
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Cusip: | 09711BRM0
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