Published on 1/8/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.87 million autocallable notes tied to Russell, S&P, Dow
By William Gullotti
Buffalo, N.Y., Jan. 8 – BofA Finance LLC priced $3.87 million of autocallable notes due Jan. 3, 2030 linked to the least performing of the Dow Jones industrial average, 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 9.65% per year if each index closes at or above its call level, 92% of initial level, on any semiannual call valuation date after one year.
The payout at maturity will be par plus 57.9% if each index finishes at or above its call level.
If the least performing index declines but finishes at or above its threshold level, 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
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| Guarantor: | Bank of America Corp.
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| Issue: | Autocallable notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
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| Amount: | $3,868,000
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| Maturity: | Jan. 3, 2030
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its call level, par plus 57.9%; if the least performing index finishes below initial level but at or above threshold level, par; otherwise, lose 1% for each 1% decline of least performing index from its initial level
|
| Call: | Automatically at par plus 9.65% per year if each index closes at or above its call level on any semiannual call valuation date after one year
|
| Initial levels: | 4,783.35 for S&P, 37,710.1 for Dow, 2,058.335 for Russell
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| Call levels: | 4,400.68 for S&P, 34,693.29 for Dow, 1,893.668 for Russell; 92% of initial levels
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| Threshold levels: | 3,587.51 for S&P, 28,282.58 for Dow, 1,543.751 for Russell; 75% of initial levels
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| Pricing date: | Dec. 28
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| Settlement date: | Jan. 5
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| Selling agent: | BofA Securities, Inc.
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| Fees: | None
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| Cusip: | 09710PEV4
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