Published on 11/30/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.69 million buffered autocallable notes tied to Nasdaq, Russell
By William Gullotti
Buffalo, N.Y., Nov. 30 – BofA Finance LLC priced $1.69 million of 0% buffered autocallable notes due Nov. 30, 2028 linked to the least performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 9.65% annualized premium if each index closes at or above its initial level on any quarterly valuation date after one year.
The payout at maturity will be par plus 48.25% if each index finishes at or above its initial level.
If the laggard index falls by up to 15%, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the worst performer beyond 15%.
The notes will be guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Buffered autocallable notes
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| Underlying indexes: | Nasdaq-100 index and Russell 2000 index
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| Amount: | $1,693,000
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| Maturity: | Nov. 30, 2028
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 48.25% if each index finishes at or above initial level; par if laggard index falls by up to 15%; otherwise, 1% loss for every 1% that worst performer declines beyond 15%
|
| Call: | After one year, automatically at par plus 9.65% annualized premium if each index closes at or above initial level on any quarterly valuation date after one year
|
| Initial levels: | 15,961.98 for Nasdaq, 1,801.154 for Russell
|
| Threshold levels: | 13,567.68 for Nasdaq, 1,530.981 for Russell; 85% of initial levels
|
| Pricing date: | Nov. 27
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| Settlement date: | Nov. 30
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 3.75%
|
| Cusip: | 09710P2C9
|
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