Published on 4/29/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $2.46 million 9.15% fixed income issuer callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, April 29 – BofA Finance LLC priced $2.46 million of fixed income issuer callable yield notes due April 25, 2025 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.15%, paid monthly.
The securities may be called starting July 25, 2024 on any monthly call date.
If the worst performing index gains or no index has closed below its 70% knock-in level value during the life of the notes, 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.
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: | Fixed income issuer callable yield notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $2.46 million
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Maturity: | April 25, 2025
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Coupon: | 9.15%, paid monthly
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its initial level or no index has ever closed below 70% knock-in level during life of notes, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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Call: | Starting July 25, 2024 on any monthly call date
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Initial levels: | 17,210.88 for Nasdaq-100, 1,967.472 for Russell 2000, 5,010.6 for S&P 500
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Knock-in levels: | 12,047.62 for Nasdaq-100, 1,377.23 for Russell 2000, 3,507.42 for S&P 500, 70% of initial level
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Pricing date: | April 22
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Settlement date: | April 25
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Agent: | BofA Securities, Inc.
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Fees: | 0.25%
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Cusip: | 09711BNQ5
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