Published on 2/13/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.97 million autocallable notes tied to Russell, S&P, EAFE ETF
By Wendy Van Sickle
Columbus, Ohio, Feb. 13 – BofA Finance LLC priced $3.97 million of autocallable notes due Feb. 12, 2029 linked to the least performing of the iShares MSCI EAFE ETF, 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 12% per year if each asset closes at or above its initial level on any annual call valuation date.
The payout at maturity will be par plus 60% if each asset finishes at or above its initial level.
If the least performing asset 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 asset 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 assets: | iShares MSCI EAFE ETF, Russell 2000 index, S&P 500 index
|
| Amount: | $3,973,000
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| Maturity: | Feb. 12, 2029
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each asset finishes at or above its initial level, par plus 60%; if the least performing asset finishes below initial level but at or above threshold level, par; otherwise, lose 1% for each 1% decline of least performing asset from its initial level
|
| Call: | Automatically at par plus 12% per year if each asset closes at or above its initial level on any annual call valuation date
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| Initial levels: | 4,995.06 for S&P, $75.17 for ETF, 1,950.359 for Russell
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| Threshold levels: | 3,746.3 for S&P, $56.38 for ETF, 1,462.769 for Russell; 75% of initial levels
|
| Pricing date: | Feb. 7
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| Settlement date: | Feb. 12
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| Selling agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 09710PTQ9
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