Published on 2/15/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $10.42 million 8.3% callable contingent income notes on indexes
New York, Feb. 15 – BofA Finance LLC priced $10.42 million of callable contingent income securities due Feb. 12, 2026 linked to S&P 500 index, Russell 2000 index and Nikkei Stock Average index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.3%, paid quarterly, if each underlying index closes at or above its 65% coupon barrier every day that period.
The securities may be called starting May 14 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 65% downside threshold in which case investors will be fully exposed to the decline of that index.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent. Morgan Stanley will act as distributor.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Callable contingent income securities
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Nikkei Stock Average index
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| Amount: | $10,415,000
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| Maturity: | Feb. 12, 2026
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| Coupon: | 8.3%, paid quarterly, if each underlying index closes at or above its 65% coupon barrier every day that quarter
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying index
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| Call: | Starting May 14 at par on any quarterly call date
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| Initial levels: | 36,897.42 for Nikkei Stock Average, 2,009.992 for Russell 2000, 5,026.61 for S&P 500
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| Downside threshold: | 23,983.32 for Nikkei Stock Average, 1,306.495 for Russell 2000, 3,267.30 for S&P 500, 65% of initial levels
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| Coupon barriers: | 23,983.32 for Nikkei Stock Average, 1,306.495 for Russell 2000, 3,267.30 for S&P 500, 65% of initial levels
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 14
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| Agent: | BofA Securities, Inc.
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| Distributor: | Morgan Stanley
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| Fees: | 2%
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| Cusip: | 09710PUU8
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