Published on 10/31/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.47 million autocallable notes linked to Russell, Dow, S&P
By Wendy Van Sickle
Columbus, Ohio, Oct. 31 – BofA Finance LLC priced $3.47 million of autocallable notes due Oct. 29, 2029 linked to the least performing of the S&P 500 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 11.1% per year if each index closes at or above 92% of its initial level on any semiannual call valuation date starting after one year.
The payout at maturity will be par plus 66.6% if each index finishes at or above 92% of its initial level.
If the least performing index declines more than 8% but not below 75% 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
|
| Guarantor: | Bank of America Corp.
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| Issue: | Autocallable notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $3,472,000
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| Maturity: | Oct. 29, 2029
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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 92% redemption level, par plus 66.6%; if the least performing index declines more than the redemption threshold but finishes above the 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 11.1% per year if each index closes at or above 92% of its initial level on any semiannual call valuation date starting after one year
|
| Initial levels: | 33,141.38 for Dow, 1,679.502 for Russell, 4,247.68 for S&P
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| Call levels/redemption thresholds: | 30,490.07 for Dow, 1,545.142 for Russell, 3,907.87 for S&P; 92% of initial levels
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| Threshold levels: | 24,856.04 for Dow, 1,259.627 for Russell, 3,185.76 for S&P; 75% of initial levels
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| Pricing date: | Oct. 24
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| Settlement date: | Oct. 31
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| Selling agent: | BofA Securities, Inc.
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| Fees: | 0%
|
| Cusip: | 09711AW87
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