Published on 2/28/2024 in the Prospect News Structured Products Daily.
New Issue: BofA sells $1.93 million autocallable notes on Russell, S&P, Nasdaq
Chicago, Feb. 28 – BofA Finance LLC priced $1.93 million of autocallable notes due Feb. 26, 2029 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 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 called at par plus 9.625% per year if each index closes at or above its initial level on any annual observation date.
The maturity date premium is 48.125% if all three indexes finish above their initial levels.
The payout at maturity will be par if at least one index finishes below its initial level but each index finishes at or above 70% of its initial level.
Otherwise, investors will be fully exposed to the decline of the least performing index from its initial level.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $1,931,000
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| Maturity: | Feb. 26, 2029
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 48.125% if all three indexes finish positive; if at least one index declines but each index finishes at or above its threshold level, par; otherwise, investors will be fully exposed to the decline of the least performing index from its initial level
|
| Call: | Automatically at par plus 9.625% per year if each index closes at or above its initial level on any annual observation date
|
| Initial levels: | 17,478.91 for Nasdaq, 1,994.743 for Russell, 4,981.80 for S&P
|
| Threshold levels: | 12,235.24 for Nasdaq, 1,396.32 for Russell, 3,487.26 for S&P, 70% of initial levels
|
| Pricing date: | Feb. 21
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| Settlement date: | Feb. 26
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| Selling agent: | BofA Securities, Inc.
|
| Fees: | 0%
|
| Cusip: | 09710PWB8
|
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