By William Gullotti
Buffalo, N.Y., Nov. 21 – BofA Finance LLC priced $8.38 million of 0% autocallable Leveraged Index Return Notes due Nov. 27, 2026 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
BofA sold 837,600 units with a face amount of $10 each, for a total principal amount of $8,376,000. The issuer sold 469,400 units to an individual investor at $9.95 per unit and the remainder to the public at par of $10, for total proceeds of $8,352,530.
The notes will be called automatically at par plus a 9% call premium if the index closes at or above its initial level on Dec. 6, 2024.
If the notes are not called, the payout at maturity will be par plus 2.0701 times any index gain.
Investors will be fully exposed to any index decline.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable Leveraged Index Return Notes
|
| Underlying index: | S&P 500 index
|
| Principal amount: | $8,376,000
|
| Proceeds: | $8,352,530
|
| Maturity: | Nov. 27, 2026
|
| Coupon: | 0%
|
| Price: | $9.95 per unit for 469,400 units; par of $10 for remainder
|
| Payout at maturity: | Par plus 2.0701 times any index gain; otherwise, full exposure to loss
|
| Call: | Automatically at par plus a 9% call premium if the index closes at or above its initial level on Dec. 6, 2024
|
| Initial level: | 4,508.24
|
| Pricing date: | Nov. 16
|
| Settlement date: | Nov. 24
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 2% for 469,400 units; 1.5% for remainder
|
| Cusip: | 09710N242
|
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