Published on 4/6/2022 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.9 million dual directional buffered notes on Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., April 6 – BofA Finance LLC priced $1.9 million of 0% dual directional buffered notes due May 4, 2023 linked to the least performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain in the least-performing index, subject to a maximum payout of par plus 22%.
If the least-performing index falls by up to 10%, the payout will be par plus the absolute value of the return of that index.
Otherwise, investors will lose 1% for every 1% decline of the least-performing index beyond 10%.
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: | Dual directional buffered notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index
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Amount: | $1,898,000
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Maturity: | May 4, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any gain in least-performing index capped at 22%; if least-performing index falls by up to 10%, par plus absolute value of return of that index; otherwise, 1% loss for each 1% decline of the worst performer below buffer level
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Initial levels: | 14,838.49 for Nasdaq, 2,070.125 for Russell
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Buffer levels: | 13,354.64 for Nasdaq, 1,863.113 for Russell; 90% of initial levels
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Pricing date: | March 31
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Settlement date: | April 5
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Selling agent: | BofA Securities, Inc.
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Fees: | 0.5%
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Cusip: | 09709UD88
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