Published on 4/1/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $4.65 million accelerated return notes linked to 20-stock basket
By William Gullotti
Buffalo, N.Y., April 1 – BofA Finance LLC priced $4.65 million of 0% Accelerated Return Notes due May 30, 2025 linked to an equally-weighted stock basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of Union Pacific Corp., AT&T Inc., Charles Schwab Corp., Automatic Data Processing, Inc., Duke Energy Corp., U.S. Bancorp, Humana Inc., Sempra Energy, American Electric Power Co., Inc., Kinder Morgan, Inc., Martin Marietta Materials, Inc., Vulcan Materials Co., Quanta Services, Inc., Avalonbay Communities, Inc., T. Rowe Price Group, Inc., Raymond James Financial, Inc., Equity Residential, Entergy Corp., Alexandria Real Estate Equities, Inc. and Ventas, Inc.
The payout at maturity will be par of $10 plus triple any basket gain, up to a maximum return of 17.9%.
Investors will be fully exposed to any basket decline.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the underwriter.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Accelerated Return Notes
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| Underlying stocks: | Union Pacific Corp., AT&T Inc., Charles Schwab Corp., Automatic Data Processing, Inc., Duke Energy Corp., U.S. Bancorp, Humana Inc., Sempra Energy, American Electric Power Co., Inc., Kinder Morgan, Inc., Martin Marietta Materials, Inc., Vulcan Materials Co., Quanta Services, Inc., Avalonbay Communities, Inc., T. Rowe Price Group, Inc., Raymond James Financial, Inc., Equity Residential, Entergy Corp., Alexandria Real Estate Equities, Inc. and Ventas, Inc.; equal weights
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| Amount: | $4,652,000
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| Maturity: | May 30, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus three times any basket gain, up to a maximum return of 17.9%; investors will be fully exposed to any basket decline
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| Initial stock levels: | $244.63 for Union Pacific, $17.55 for AT&T, $72.38 for Charles Schwab, $248.33 for Automatic Data Processing, $96.09 for Duke, $44.00 for U.S. Bancorp, $349.50 for Humana, $71.25 for Sempra, $84.80 for American Electric, $18.15 for Kinder Morgan, $611.86 for Martin Marietta, $272.79 for Vulcan, $259.75 for Quanta, $183.69 for Avalonbay, $120.86 for T. Rowe Price, $127.40 for Raymond James, $62.57 for Equity Residential, $104.88 for Entergy, $127.68 for Alexandria Real Estate, $43.63 for Ventas
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| Pricing date: | March 27
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| Settlement date: | April 4
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| Underwriter: | BofA Securities, Inc.
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| Fees: | 1.75%
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| Cusip: | 09710N564
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