Published on 2/9/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.02 million contingent income autocallable yield notes on indexes, ETF
New York, Feb. 9 – BofA Finance LLC priced $3.02 million of contingent income autocallable yield notes due May 8, 2025 linked to the Russell 2000 index, the S&P 500 index and the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.16%, paid monthly, if each underlier closes at or above its 80% coupon barrier on the related monthly observation date, plus any previously unpaid coupons.
The securities may be called automatically at par if the closing level of each underlier is greater than or equal to its initial level on any quarterly call determination date.
If the notes have not been called, the payout at maturity will be par unless any underlier closes below its 65% downside threshold on any trading day during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer declines from initial level.
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: | Contingent income autocallable yield notes
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| Underlying assets: | Russell 2000 index, S&P 500 index and VanEck Gold Miners ETF
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| Amount: | $3.02 million
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| Maturity: | May 8, 2025
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| Coupon: | 14.16%, paid monthly, if each underlier closes at or above its 80% coupon barrier on the related monthly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless any underlier closes below its 65% downside threshold on any trading day during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer declines from initial level
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| Call: | Automatically at par if the closing level of each underlier is greater than or equal to its initial level on any quarterly call determination date
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| Initial levels: | 1,937.241 for Russell 2000, 4,942.81 for S&P 500, $27.36 for VanEck Gold Miners ETF
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| Downside thresholds: | 1,259.207 for Russell 2000, 3,212.83 for S&P 500, $17.78 for VanEck Gold Miners ETF, 65% of initial levels
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| Coupon barriers: | 1,549.793 for Russell 2000, 3,954.25 for S&P 500, $21.89 for VanEck Gold Miners ETF, 80% of initial levels
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| Pricing date: | Feb. 5
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| Settlement date: | Feb. 8
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.85%
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| Cusip: | 09710PUS3
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