Published on 2/8/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.1 million 7.5% contingent income buffered callable yield notes on indexes
New York, Feb. 8 – BofA Finance LLC priced $1.1 million of contingent income buffered issuer callable yield notes due Feb. 6, 2029 linked to the Dow Jones industrial average and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.5%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date.
The securities may be called starting Feb. 6, 2025 on any monthly call date.
If the worst performing index gains or ends above its 85% threshold value the payout at maturity will be par plus the contingent coupon. Otherwise investors will lose 1% for every 1% that the worst performing index declines below its threshold value.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Contingent income buffered issuer callable yield notes
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Underlying indexes: | Dow Jones industrial average and S&P 500 index
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Amount: | $1.1 million
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Maturity: | Feb. 6, 2029
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Coupon: | 7.5%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its 85% threshold value, par; otherwise 1% loss for every 1% that worst performing index declines below its threshold value
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Call: | Starting Feb. 6, 2025 on any monthly call date
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Initial levels: | 38,519.84 for Dow Jones industrial average, 4,906.19 for S&P 500
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Downside thresholds: | 32,741.86 for Dow Jones industrial average, 4,170.26 for S&P 500, 85% of initial level
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Coupon barriers: | 30,815.87 for Dow Jones industrial average, 3,924.95 for S&P 500, 80% of initial levels
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Pricing date: | Feb. 1
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Settlement date: | Feb. 6
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Agent: | BofA Securities, Inc.
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Fees: | 1%
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Cusip: | 09710PT22
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