Published on 4/7/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.81 million contingent income issuer callable yield notes on indexes, ETF
Chicago, April 8 – BofA Finance LLC priced $1.81 million of contingent income issuer callable yield notes due April 3, 2029 linked to the least performing of the Dow Jones industrial average, Russell 2000 index and iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.1%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par starting on Oct. 3, 2024 and on any subsequent monthly determination date.
If the worst performing asset gains or ends above its 70% 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
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Guarantor: | Bank of America Corp.
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Issue: | Contingent income issuer callable yield notes
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Underlying assets: | Dow Jones industrial average, Russell 2000 index and iShares MSCI Emerging Markets ETF
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Amount: | $1,808,000
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Maturity: | April 3, 2029
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Coupon: | 10.1% annual rate, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date
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Price: | Par
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Payout at maturity: | If worst performing asset finishes at or above its 70% threshold value, par; 1% loss for every 1% that worst performing asset declines if it finishes below its threshold value
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Call: | At par starting on Oct. 3, 2024 and on any subsequent monthly determination date
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Initial levels: | 39,807.37 for Dow, 2,124.547 for Russell, $41.08 for EM ETF
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Coupon barriers: | 27,865.16 for Dow, 1,487.183 for Russell, $28.76 for EM ETF, 70% of initial levels
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Downside thresholds: | 27,865.16 for Dow, 1,487.183 for Russell, $28.76 for EM ETF, 70% of initial levels
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Pricing date: | April 2
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Settlement date: | April 5
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Agent: | BofA Securities, Inc.
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Fees: | 0.25%
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Cusip: | 09711BKM7
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