Published on 4/10/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.23 million trigger callable contingent yield notes on EAFE, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, April 10 – BofA Finance LLC priced $3.23 million of trigger callable contingent yield notes due April 6, 2029 linked to the worst performing of the MSCI EAFE index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 8.6% if each index closes at or above its coupon barrier level, 70% of its initial level for the corresponding observation date for that period.
The notes will be callable at par of $10 plus any coupon otherwise due on any quarterly observation date other than the final one.
If the notes are not called and each index finishes at or above its downside threshold level, 65% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the least-performing index from its initial level.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the underwriter and UBS Financial Services Inc. is the selling agent.
Issuer: | BofA Finance LLC
|
Guarantor: | Bank of America Corp.
|
Issue: | Trigger callable contingent yield notes
|
Underlying indexes: | MSCI EAFE index, Russell 2000 index, S&P 500 index
|
Amount: | $3,225,000
|
Maturity: | April 6, 2029
|
Coupon: | 8.6% per year, payable quarterly if each index closes at or above its coupon barrier level for corresponding observation date for that period
|
Price: | Par of $10
|
Payout at maturity: | Par unless any index finishes below downside threshold level, in which case 1% loss for every 1% decline of worst performing index from initial level
|
Call option: | At par plus any coupon due on any quarterly observation date other than final one
|
Initial levels: | 2,053.828 for Russell, 5,147.21 for S&P, 2,345.86 for EAFE
|
Coupon barrier levels: | 1,437.68 for Russell, 3,603.05 for S&P, 1,642.10 for EAFE; 70% of initial levels
|
Knock-in levels: | 1,334.988 for Russell, 3,345.69 for S&P, 1,524.81 for EAFE; 65% of initial levels
|
Pricing date: | April 4
|
Settlement date: | April 8
|
Agents: | UBS Financial Services Inc. and BofA Securities, Inc.
|
Fees: | 2%
|
Cusip: | 09710R151
|
|
© 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.