Published on 7/9/2023 in the Prospect News Structured Products Daily.
New Issue: BofA sells $547,000 capped buffered return enhanced notes on indexes
By Kiku Steinfeld
Chicago, July 10 – BofA Finance LLC priced $547,000 of 0% capped buffered return enhanced notes due May 16, 2024 linked to the least performing of the Dow Jones industrial average, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains, the payout at maturity will be par plus 300% of the return of the worst performing index, capped at 23.5%. The payout will be par if the worst performing index declines but by no more than the 10% buffer. Investors will lose 1% for every 1% that the worst performing index declines beyond the buffer.
The notes are guaranteed by Bank of America Corp.
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: | Capped buffered return enhanced notes
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Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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Amount: | $547,000
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Maturity: | May 16, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index gains, par plus 300% of the return of the worst performing index, capped at 23.5%; par if worst performing index declines but by no more than 10% buffer; 1% loss for every 1% that worst performing index declines beyond the buffer
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Initial levels: | 4,090.46 for S&P, 33,869.27 for Dow, 1,918.814 for Russell
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Buffer levels: | 3,681.41 for S&P, 30,482.34 for Dow, 1,726.933 for Russell, 90% of initial levels
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Pricing date: | Feb. 13, 2023
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Settlement date: | Feb. 16, 2023
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Agent: | BofA Securities, Inc.
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Fees: | 0.25%
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Cusip: | 09709VHG4
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