Published on 11/20/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $710,000 digital return notes linked to Dow, Russell, S&P 500
By Angela McDaniels
Tacoma, Wash., Nov. 20 – BofA Finance LLC priced $710,000 of 0% digital return notes due July 5, 2024 linked to the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the least performing index’s final level is greater than or equal to its threshold level, 65% of its initial level, the payout at maturity will be par plus 8.5%. Otherwise, investors will lose 1% for every 1% that the least performing index declines from its initial level.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the 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: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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Amount: | $710,000
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Maturity: | July 5, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If least performing index’s final level is greater than or equal to threshold level, par plus 8.5%; otherwise, 1% loss for every 1% that least performing index declines from initial level
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Initial levels: | 32,859.03 for Dow, 1,768.383 for Russell and 4,050.83 for S&P
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Barrier levels: | 21,358.37 for Dow, 1,149.449 for Russell and 2,633.04 for S&P, or 65% of initial levels
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Pricing date: | March 30
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Settlement date: | April 4
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Agent: | BofA Securities, Inc.
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Fees: | 1.5%
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Cusip: | 09709VKJ4
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