Published on 2/13/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $786,000 autocallables linked to Dow, Nasdaq, Russell
Chicago, Feb. 13 – BofA Finance LLC priced $786,000 of 0% autocallable notes due May 28, 2027 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Beginning after one year, the notes will be automatically called at par plus 12.5% per year if each index closes at or above its initial level on any semiannual call observation date.
If the least performing index’s final level is greater than or equal to its initial level, the payout at maturity will be par plus 50%. If its final level is less than its initial level but greater than or equal to 70% of its initial level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the least performing index declines from its initial level.
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: | Autocallable notes
|
Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
|
Amount: | $786,000
|
Maturity: | May 28, 2027
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If least performing index’s final level is greater than or equal to initial level, par plus 50%; if least performing index’s final level is less than initial level but greater than or equal to threshold level, par; otherwise, 1% loss for every 1% that least performing index declines from initial level
|
Call: | Beginning after one year, automatically at par plus 12.5% per year if each index closes at or above initial level on any semiannual call observation date
|
Initial levels: | 32,764.65 for Dow, 13,938.53 for Nasdaq and 1,754.605 for Russell
|
Threshold levels: | 22,935.26 for Dow, 9,756.97 for Nasdaq and 1,228.224 for Russell, or 70% of initial level
|
Pricing date: | May 25, 2023
|
Settlement date: | May 31, 2023
|
Agent: | BofA Securities, Inc.
|
Fees: | 3.625%
|
Cusip: | 09709VU46
|
|
© 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.