Published on 10/16/2023 in the Prospect News Structured Products Daily.
New Issue: BofA sells $25,000 autocallable enhanced return notes on Russell, Nasdaq, S&P
By Kiku Steinfeld
Chicago, Oct. 16 – BofA Finance LLC priced $25,000 of autocallable enhanced return notes due March 31, 2026 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 14% if each index closes at or above its initial level on March 28, 2024.
The payout at maturity will be par plus 1.75 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: | $25,000
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| Maturity: | March 31, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.75 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 14% if each index closes at or above its initial level on March 28, 2024
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| Initial levels: | 12,610.57 for Nasdaq, 1,752.632 for Russell, 3,971.27 for S&P
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| Threshold levels: | 8,827.40 for Nasdaq, 1,226.842 for Russell, 2,779.89 for S&P; 70% of initial levels
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| Pricing date: | March 28, 2023
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| Settlement date: | March 31, 2023
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| Selling agent: | BofA Securities, Inc.
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| Fees: | 2.85%
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| Cusip: | 09709VKY1
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