By Wendy Van Sickle
Columbus, Ohio, Feb. 28 – BofA Finance LLC priced $13.9 million of 0% autocallable market-linked step-up notes due Feb. 27, 2026 linked to 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 automatically called at par plus a 12.5% call premium if the index closes at or above its initial level on Feb. 28, 2025.
If the index finishes above the step-up level, 120% of the initial level, the payout at maturity will be par plus the index gain.
If the index finishes flat or gains up to the step-up level, the payout will be par plus the step-up payment of 20%.
Investors will be fully exposed to any index decline.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Nasdaq-100 index
|
| Amount: | $13,904,420
|
| Maturity: | Feb. 27, 2026
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index finishes flat or gains up to the step-up level, par plus 20%; otherwise, lose 1% for every 1% decline from initial level
|
| Call: | Automatically at par plus a 12.5% call premium if the index closes at or above its initial level on Feb. 28, 2025
|
| Initial level: | 18,004.7
|
| Step-up value: | 21,605.64; 120% of initial level
|
| Pricing date: | Feb. 22
|
| Settlement date: | Feb. 29
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 09710N507
|
|
|
|
|
© 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.
