Published on 4/2/2024 in the Prospect News Structured Products Daily.
New Issue: BofA sells $9.25 million capped gears linked a weighted five-index basket
By Wendy Van Sickle
Columbus, Ohio, April 2 – BofA Finance LLC priced $9.25 million of 0% capped gears due May 30, 2025 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 Nikkei 225 index with a 25% weight, the FTSE 100 index with a 17.5% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with a 7.5% weight.
The payout at maturity will be par of $10 plus triple any index gain, capped at par plus 23.8%.
Investors will be fully exposed to any basket decline.
UBS Financial Services Inc. and BofA Securities, Inc. are the agents.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Capped gears
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Underlying basket: | Euro Stoxx 50 index (40% weight), Nikkei 225 index (25% weight), FTSE 100 index (17.5% weight), Swiss Market index (10% weight), S&P/ASX 200 index (7.5% weight)
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Amount: | $9,254,280
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Maturity: | May 30, 2025
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus three times any basket gain, capped at par plus 23.8%; otherwise, full exposure to loss
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Initial levels: | 5,064.18 for Stoxx, 40,398.03 for Nikkei, 7,930.96 for FTSE, 11,680.36 for Swiss Market, 7,780.232 for S&P/ASX 200
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Pricing date: | March 26
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Settlement date: | March 28
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Agents: | UBS Financial Services Inc. and BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 09710M889
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