Published on 4/3/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.08 million 16.2504% contingent income autocallable yield notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, April 3 – BofA Finance LLC priced $1.08 million of contingent income (with memory feature) autocallable yield notes due June 24, 2025 linked to the Nasdaq-100 index, Russell 2000 index and VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.2504%, paid monthly, if each underlying asset closes at or above its 80% coupon barrier on the related monthly observation date, plus any previously unpaid coupon.
The securities may be called automatically at par on any quarterly observation date after six months if each index closes at or above its initial level.
If the worst performing asset gains or ends above its 65% threshold value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes below its threshold value.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income autocallable yield notes
|
| Underlying assets: | Nasdaq-100 index, Russell 2000 index and VanEck Gold Miners ETF
|
| Amount: | $1,065,000
|
| Maturity: | June 24, 2025
|
| Coupon: | 16.2504%, paid monthly, if each underlying asset closes at or above its coupon barrier on the related monthly observation date, plus any previously unpaid coupon
|
| Price: | Par
|
| Payout at maturity: | If worst performing asset finishes at or above its threshold value, par; 1% loss for every 1% that worst performing asset declines if it finishes below its threshold value
|
| Call: | Automatically at par on quarterly observation date after six months if each index closes at or above initial level
|
| Initial levels: | 17,985.01 for Nasdaq-100, 2,074.735 for Russell 2000, $29.74 for Gold Miners
|
| Downside thresholds: | 14,388.01 for Nasdaq-100, 1,619.788 for Russell 2000, $23.79 for Gold Miners, 80% of initial level
|
| Coupon barriers: | 11,690.26 for Nasdaq-100, 1,316.078 for Russell 2000, $19.33 for Gold Miners, 65% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 28
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 1%
|
| Cusip: | 09711BDN3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
