Published on 3/30/2023 in the Prospect News Structured Products Daily.
New Issue: BofA Finance sells $370,000 enhanced return notes on gold, silver
By Kiku Steinfeld
Chicago, March 30 – BofA Finance LLC priced $370,000 of 0% enhanced return notes due Dec. 12, 2025 linked to the least performing of the SPDR Gold Shares and the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
If the ETFs gain, the payout at maturity will be par plus 1.7 times the index gain of the worst performer.
If any ETF declines by up to 30%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the least performing ETF declines 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: | Enhanced return notes
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Underlying assets: | SPDR Gold Shares and the iShares Silver Trust
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Amount: | $370,000
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Maturity: | Dec. 12, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.7 times any gain in worst performer; if any ETF declines by up to 30%, par; otherwise, investors will lose 1% for every 1% the least performing ETF declines from its initial level
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Initial levels: | $167.06 for gold, $21.56 for silver
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Threshold levels: | $116.94 for gold, $15.09 for silver, 70% of initial levels
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Pricing date: | Dec. 9
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Settlement date: | Dec. 14
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Agent: | BofA Securities, Inc.
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Fees: | 0.5%
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Cusip: | 09709VBK1
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