Published on 11/29/2022 in the Prospect News Structured Products Daily.
New Issue: BofA prices $4.67 million capped Leveraged Index Return Notes on MSCI index
By William Gullotti
Buffalo, N.Y., Nov. 29 – BofA Finance LLC priced $4.67 million of 0% capped Leveraged Index Return Notes due Nov. 29, 2024 linked to the MSCI Emerging Markets index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The payout at maturity will be par of 200% of any index gain, subject to a maximum payout of par plus 33.05%.
If the index falls by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline beyond 10%.
BofA Securities, Inc. is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Capped Leveraged Index Return Notes
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Underlying index: | MSCI Emerging Markets index
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Amount: | $4,668,390
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Maturity: | Nov. 29, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any index gain, capped at par plus 33.05%; if index falls by up to 10%, par; otherwise, 1% loss for every 1% index decline beyond 10%
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Initial level: | 927.41
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Threshold level: | 834.67; 90% of initial level
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Pricing date: | Nov. 22
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Settlement date: | Nov. 30
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 06054E101
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