Published on 2/22/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $7.96 million leveraged buffered basket-linked notes
By William Gullotti
Buffalo, N.Y., Feb. 22 – BofA Finance LLC priced $7.96 million of 0% leveraged buffered basket-linked notes due Jan. 23, 2026 linked to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 26% weight, the FTSE 100 index with a 17% weight, the Swiss Market index with a 12% weight and the S&P/ASX 200 index with an 9% weight.
The notes are guaranteed by Bank of America Corp.
If the basket return is positive, the payout will be par plus 250% of the gain, subject to a maximum return of par plus 36.375%.
If the basket finishes flat or declines no more than 15%, the payout will be par. Otherwise, investors will lose 1.1765% for every 1% decline of the basket beyond 15%.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Leveraged buffered basket-linked notes
|
| Underlying indexes: | Euro Stoxx 50 (36% weight), Topix (26% weight), FTSE 100 (17% weight), Swiss Market (12% weight), S&P/ASX 200 (9% weight)
|
| Amount: | $7,964,000
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| Maturity: | Jan. 23, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, payout will be par plus 250% of the gain, capped at par plus 36.375%; if the basket declines up to 15%, par; otherwise, 1.1765% loss for every 1% decline of the basket beyond 15%
|
| Initial index levels: | 4,689.28 for Euro Stoxx 50, 2,612.03 for Topix, 7,512.28 for FTSE 100, 11,142.79 for Swiss Market, 7,603.583 for S&P/ASX 200
|
| Buffer level: | 85% of initial level
|
| Pricing date: | Feb. 13
|
| Settlement date: | Feb. 21
|
| Agent: | BofA Securities, Inc.
|
| Fees: | None
|
| Cusip: | 09710PWE2
|
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