Published on 2/12/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.38 million 10% contingent income buffered callable yield notes on Russell, S&P
New York, Feb. 12 – BofA Finance LLC priced $3.38 million of contingent income buffered issuer callable yield notes due Aug. 12, 2025 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid quarterly, if each underlying index closes at or above its 87% coupon barrier on the related quarterly observation date.
The securities may be called starting Nov. 13, 2024 on any quarterly call determination date.
If the worst performing index gains or ends above its 87% 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
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income buffered issuer callable yield notes
|
| Underlying indexes: | Russell 2000 index and S&P 500 index
|
| Amount: | $3,378,000
|
| Maturity: | Aug. 12, 2025
|
| Coupon: | 10%, paid quarterly, if each underlying index closes at or above its 87% coupon barrier on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing index finishes at or above its 87% threshold value, par; otherwise 1% loss for every 1% that worst performing index declines below its threshold value
|
| Call: | Starting Nov. 13, 2024 on any quarterly call determination date
|
| Initial levels: | 1,950.359 for Russell 2000, 4,995.06 for S&P 500
|
| Downside thresholds: | 1,696.812 for Russell 2000, 4,345.70 for S&P 500, 87% of initial level
|
| Coupon barriers: | 1,696.812 for Russell 2000, 4,345.70 for S&P 500, 87% of initial levels
|
| Pricing date: | Feb. 7
|
| Settlement date: | Feb. 12
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 0.25%
|
| Cusip: | 09710PVH6
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
