Published on 8/11/2023 in the Prospect News Structured Products Daily.
New Issue: BofA Finance prices $1.26 million digital return notes linked to S&P, Dow, Russell
By William Gullotti
Buffalo, N.Y., Aug. 11 – BofA Finance LLC priced $1.26 million of 0% digital return notes due Oct. 31, 2024 linked to the performance of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
If the lowest performing index finishes at or above its 65% threshold level, the payout at maturity will be par plus 8%.
Otherwise, investors will be fully exposed to the decline of the lowest 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: | Digital return notes
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Underlying indexes: | Russell 2000 index, S&P 500 index, Dow Jones industrial average
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Amount: | $1,263,000
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Maturity: | Oct. 31, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 8% if lowest performing index finishes at or above threshold level; otherwise, loss of 1% for every 1% decline of lowest performing index from initial level
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Initial levels: | 4,582.23 for S&P, 35,459.29 for Dow, 1,981.537 for Russell
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Threshold levels: | 2,978.45 for S&P, 23,048.54 for Dow, 1,287.999 for Russell; 65% of initial levels
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Pricing date: | July 28
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Settlement date: | Aug. 2
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Selling agent: | BofA Securities, Inc.
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Fees: | 1.5%
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Cusip: | 09711AAV0
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