Published on 12/28/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.86 million contingent income autocallable yield notes on stocks
By Wendy Van Sickle
Columbus, Ohio, Dec. 28 – BofA Finance LLC priced $1.86 million of contingent income autocallable yield notes due March 21, 2025 linked to the stocks of Amazon.com, Inc., JPMorgan Chase & Co. and UnitedHealth Group Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5%, paid monthly, if the least performing stock closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called automatically starting in March 2024 at par on a monthly observation date if each stock closes at or above its initial level.
If the least performing gains or ends above its 65% threshold value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the least performing stock declines if it finishes below its threshold value.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income autocallable yield notes
|
| Underlying stocks: | Amazon.com, Inc., JPMorgan Chase & Co. and UnitedHealth Group Inc.
|
| Amount: | $1,856,000
|
| Maturity: | March 21, 2025
|
| Coupon: | 10.5%, paid monthly, if the least performing stock closes at or above its 70% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | If least performing stock finishes at or above its 65% threshold value, par; 1% loss for every 1% that least performing stock declines if it finishes below its threshold value
|
| Call: | Automatically starting in March 2024 at par on a monthly observation date if each stock closes at or above its initial level
|
| Initial levels: | $154.07 for Amazon, $166.23 for JPMorgan, $526.55 for UnitedHealth
|
| Coupon barriers: | $107.85 for Amazon, $116.36 for JPMorgan, $368.59 for UnitedHealth, 70% of initial levels
|
| Downside thresholds: | $100.15 for Amazon, $108.05 for JPMorgan, $342.26 for UnitedHealth, 65% of initial levels
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 21
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 3%
|
| Cusip: | 09710PF43
|
|
|
© 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.
