Published on 10/16/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $810,000 autocallable notes linked to Nasdaq, Dow, S&P
Chicago, Oct. 16 – BofA Finance LLC priced $810,000 of autocallable notes due Oct. 10, 2025 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Dow Jones industrial average, 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 18.25% per year if each index closes at or above its initial level on any quarterly call valuation date starting after six months.
The payout at maturity will be par plus 54.75% if each index finishes at or above its initial level.
If the least performing index declines but not more than 70% of its initial level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the least performing index from its initial level.
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 notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $810,000
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| Maturity: | Oct. 10, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at above its initial level, par plus 54.75%; if the least performing index but finishes above the threshold level, par; otherwise, investors will be fully exposed to the decline of the least performing index from its initial level
|
| Call: | Automatically at par plus 18.25% per year if each index closes at or above its initial level on any quarterly call valuation date starting after six months
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| Initial levels: | 29,296.79 for Dow, 3,639.66 for S&P, 11,039.47 for Nasdaq
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| Threshold levels: | 20,507.75 for Dow, 2,547.76 for S&P, 7,727.63 for Nasdaq; 70% of initial levels
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| Pricing date: | Oct. 7, 2022
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| Settlement date: | Oct. 12, 2022
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| Selling agent: | BofA Securities, Inc.
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| Fees: | 0.75%
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| Cusip: | 09709V5J1
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