Published on 12/28/2023 in the Prospect News Structured Products Daily.
New Issue: BofA sells $1.35 million autocallable enhanced return notes on Russell, Nasdaq, S&P
By William Gullotti
Buffalo, N.Y., Dec. 28 – BofA Finance LLC priced $1.35 million of autocallable enhanced return notes due Nov. 3, 2027 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 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 16.5% per year if each index closes at or above its initial level on any annual valuation date.
The payout at maturity will be par plus 200% of any gain in the least performing index.
If any index finishes below its initial level but no lower than 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.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Autocallable enhanced return notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
|
| Amount: | $1,348,000
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| Maturity: | Nov. 3, 2027
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any gain in the least performing index; if the least performing index declines but finishes at or above the threshold level, par; otherwise, investors will be fully exposed to the decline of the least performing index
|
| Call: | Automatically at par plus 16.5% per year if each index closes at or above its initial level on any annual valuation date
|
| Initial levels: | 14,709.78 for Nasdaq, 4,193.8 for S&P, 1,662.282 for Russell
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| Threshold levels: | 10,296.85 for Nasdaq, 2,935.66 for S&P, 1,163.597 for Russell; 70% of initial levels
|
| Pricing date: | Oct. 31
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| Settlement date: | Nov. 3
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 0.9%
|
| Cusip: | 09711AUX4
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