Published on 4/29/2024 in the Prospect News Structured Products Daily.
New Issue: BofA sells $4.31 million autocallable enhanced return notes on Russell, Nasdaq, S&P
Chicago, April 29 – BofA Finance LLC priced $4.31 million of autocallable enhanced return notes due Jan. 31, 2029 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will be called at par plus 9.5% if each index closes at or above its call level on any annual observation date starting after one year. The initial call level is 100% of the initial levels with a 5% decrease each year.
The payout at maturity will be par plus 1.5 times any gain in the least performing index.
If any index finishes below its initial level but no lower than its threshold level, 70% of its initial level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the least performing index.
BofA Securities, Inc. is the selling agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Autocallable enhanced return notes
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Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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Amount: | $4,305,000
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Maturity: | Jan. 31, 2029
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any gain in the least performing index; if the least performing index declines but finishes at or above the threshold level, par; otherwise, investors will be fully exposed to the decline of the least performing index
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Call: | Automatically at par plus 9.5% per year if each index closes at or above its call level on any annual observation date starting after one year; initial call level is 100% of initial levels with 5% decrease each year
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Initial levels: | 1,978.331 for Russell, 17,421.01 for Nasdaq, 4,890.97 for S&P
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Threshold levels: | 1,384.832 for Russell, 12,194.71 for Nasdaq, 3,423.68 for S&P; 70% of initial levels
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Pricing date: | Jan. 26
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Settlement date: | Jan. 31
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Selling agent: | BofA Securities, Inc.
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Fees: | 4.125%
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Cusip: | 09710PHW9
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