Published on 1/26/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $2.44 million autocallable notes tied to Russell, S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, Jan. 26 – BofA Finance LLC priced $2.44 million of autocallable notes due Jan. 26, 2029 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 9.15% per year if each index closes at or above its initial level on any annual call valuation date.
The payout at maturity will be par plus 45.75% if each index finishes at or above its initial level.
If the least performing index declines but finishes at or above its threshold level, 55% 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: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
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| Amount: | $2,444,000
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| Maturity: | Jan. 26, 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 or above its initial level, par plus 45.75%; 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 9.15% per year if each index closes at or above its initial level on any annual call valuation date
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| Initial levels: | 4,864.6 for S&P, 37,905.45 for Dow, 1,976.269 for Russell
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| Threshold levels: | 2,675.53 for S&P, 20,848.0 for Dow, 1,086.948 for Russell; 55% of initial levels
|
| Pricing date: | Jan. 23
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| Settlement date: | Jan. 26
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| Selling agent: | BofA Securities, Inc.
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| Fees: | 2.5%
|
| Cusip: | 09710PNB8
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