Published on 3/28/2024 in the Prospect News Structured Products Daily.
New Issue: BofA sells $1.8 million autocallable enhanced return notes on Nasdaq, S&P
By Wendy Van Sickle
Columbus, Ohio, March 28 – BofA Finance LLC priced $1.8 million of autocallable enhanced return notes due March 27, 2029 linked to the least performing of the S&P 500 index and the Nasdaq-100 index, 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 9% per year if each index closes at or above its initial level on any quarterly valuation date after one year.
The payout at maturity will be par plus 1.25 times any gain in the least performing index.
If any index finishes below its initial level but no lower than its threshold level, 90% of its initial level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the least performing index.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Autocallable enhanced return notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index
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| Amount: | $1,795,000
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| Maturity: | March 27, 2029
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.25 times any gain in the least performing index; if the least performing index declines but finishes at or above the threshold level, par; otherwise, investors will be fully exposed to the decline of the least performing index from its initial level
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| Call: | Automatically at par plus 9% per year if each index closes at or above its initial level on any quarterly valuation date after one year
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| Initial levels: | 18,339.44 for Nasdaq, 5,234.18 for S&P
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| Threshold levels: | 16,505.5 for Nasdaq, 4,710.76 for S&P; 90% of initial levels
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| Pricing date: | March 22
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| Settlement date: | March 27
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| Selling agent: | BofA Securities, Inc.
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| Fees: | 2.5%
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| Cusip: | 09711B7L4
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