Published on 3/20/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.12 million autocallable notes tied to Russell, S&P, Dow
Chicago, March 20 – BofA Finance LLC priced $1.12 million of autocallable notes due March 6, 2029 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 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 7.75% per year if each index closes at or above 92% of its initial level on any quarterly call valuation date starting after one year.
The payout at maturity will be par plus 38.75% if each index finishes at or above 92% of its initial level.
If the least performing index declines more than 8% but finishes at or above its threshold level, 75% of its initial level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the least performing index from its initial level.
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 notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
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| Amount: | $1,120,000
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| Maturity: | March 6, 2029
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the worst performer finishes above 92% redemption barrier, par plus 38.75%; if the least performing index declines more than 8% but finishes above threshold level, par; otherwise, lose 1% for each 1% decline of least performing index from its initial level
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| Call: | Automatically at par plus 7.75% per year if each index closes at or above 92% of its initial level on any quarterly call valuation date starting after one year
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| Initial levels: | 39,087.38 for Dow, 2,076.395 for Russell, 5,137.08 for S&P
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| Redemption barrier levels: | 35,960.39 for Dow, 1,910.283 for Russell, 4,726.11 for S&P; 92% of initial levels
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| Threshold levels: | 29,315.54 for Dow, 1,557.296 for Russell, 3,852.81 for S&P; 75% of initial levels
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| Pricing date: | March 1
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| Settlement date: | March 6
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| Selling agent: | BofA Securities, Inc.
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| Fees: | 2%
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| Cusip: | 09710PXT8
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