Published on 6/5/2023 in the Prospect News Structured Products Daily.
New Issue: BofA sells $3.84 million autocallable notes on Russell, Dow, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, June 5 – BofA Finance LLC priced $3.84 million of autocallable notes due May 31, 2028 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, 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 12% per year if each index closes at or above its initial level on any semiannual call valuation date after one year.
The payout at maturity will be par plus 60% if each index finishes at or above its initial level.
If any index finishes below its initial level but each finish at or above its threshold level, 70% of its initial level, the payout will be par. 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
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| Guarantor: | Bank of America Corp.
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| Issue: | Autocallable notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $3,843,000
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| Maturity: | May 31, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at above its initial level, par plus 60%; if the least performing index finishes below initial level but at or above threshold level, par; otherwise, investors will be fully exposed to the decline of the least performing index from its initial level
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| Call: | Automatically at par plus 12% per year if each index closes at or above its initial level on any semiannual call valuation date after one year
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| Initial levels: | 32,764.65 for Dow, 13,938.53 for Nasdaq, 1,754.605 for Russell
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| Threshold levels: | 22,935.26 for Dow, 9,756.97 for Nasdaq, 1,228.224 for Russell; 70% of initial levels
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| Pricing date: | May 25
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| Settlement date: | May 31
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| Selling agent: | BofA Securities, Inc.
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| Fees: | 4.025%
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| Cusip: | 09709VU53
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