Published on 9/29/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1 million buffered autocallable notes tied to Nasdaq, S&P
By William Gullotti
Buffalo, N.Y., Sept. 29 – BofA Finance LLC priced $1 million of 0% buffered autocallable notes due Sept. 30, 2025 linked to the least performing of the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 12.8% premium if each index closes at or above its initial level on Oct. 2, 2024.
The payout at maturity will be par plus 25.6% if each index finishes at or above its initial level.
If the laggard index falls by up to 10%, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the worst performer beyond 10%.
The notes will be guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
Issuer: | BofA Finance LLC
|
Guarantor: | Bank of America Corp.
|
Issue: | Buffered autocallable notes
|
Underlying indexes: | Nasdaq-100 index and S&P 500 index
|
Amount: | $1 million
|
Maturity: | Sept. 30, 2025
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus 25.6% if each index finishes at or above initial level; par if laggard index falls by up to 10%; otherwise, 1% loss for every 1% that worst performer declines beyond 10%
|
Call: | After one year, automatically at par plus 12.8% premium if each index closes at or above initial level on Oct. 2, 2024
|
Initial levels: | 14,768.9 for Nasdaq, 4,337.44 for S&P
|
Threshold levels: | 13,292.01 for Nasdaq, 3,903.7 for S&P; 90% of initial levels
|
Pricing date: | Sept. 25
|
Settlement date: | Sept. 28
|
Selling agent: | BofA Securities, Inc.
|
Fees: | 1.75%
|
Cusip: | 09711ARH3
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.