Published on 4/25/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $5 million autocallable notes linked to Russell, Dow, S&P
Chicago, April 25 – BofA Finance LLC priced $5 million of autocallable notes due Feb. 1, 2027 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, 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 13.6% per year if each index closes at or above its initial level on any annual call valuation date.
The payout at maturity will be par plus 40.8% if each index finishes at or above its initial level.
If the least performing index declines but not more than 70% of its initial level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the least performing index from its initial level.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $5,000,000
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| Maturity: | Feb. 1, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at above its initial level, par plus 40.8%; if the least performing index but finishes below the initial value but above the threshold level, par; otherwise, investors will be fully exposed to the decline of the least performing index from its initial level
|
| Call: | Automatically at par plus 13.6% per year if each index closes at or above its initial level on any annual call valuation date
|
| Initial levels: | 37,806.39 for Dow, 1,961.865 for Russell, 4,868.55 for S&P
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| Threshold levels: | 26,464.47 for Dow, 1,373.306 for Russell, 3,407.99 for S&P; 70% of initial levels
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| Strike date: | Jan. 24
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Selling agent: | BofA Securities, Inc.
|
| Fees: | 0.25%
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| Cusip: | 09710PQM1
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