Published on 4/1/2024 in the Prospect News Structured Products Daily.
New Issue: BofA sells $13.55 million autocallable Stars tied to weighted index basket
By William Gullotti
Buffalo, N.Y., April 1 – BofA Finance LLC priced $13.55 million of 0% autocallable Strategic Accelerated Redemption Securities due March 25, 2027 linked to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the FTSE China 50 index with a 5% weight.
The notes will be called at par plus a premium of 12% per year if the closing level of the basket is greater than or equal to its starting value on any annual valuation date.
If the notes are not called at or prior to maturity, investors will lose 1% for each 1% decline in the basket.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Autocallable Strategic Accelerated Redemption Securities
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| Underlying indexes: | Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei Stock Average index (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight), FTSE China 50 index (5% weight)
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| Amount: | $13,554,770
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| Maturity: | March 25, 2027
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If not called, full exposure to decline of basket
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| Call: | At par plus premium of 12% per year if basket closes at or above its initial value on any annual valuation date
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| Initial value: | 5,081.74 for Stoxx, 7,931.98 for FTSE 100, 40,762.73 for Nikkei, 11,705.71 for Swiss, 7,819.609 for S&P/ASX 200, 10,885.57 for FTSE China 50
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| Pricing date: | March 27
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| Settlement date: | April 4
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| Agent: | BofA Securities, Inc.
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| Fees: | 2%
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| Cusip: | 09710N556
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