Published on 1/18/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $56,000 capped enhanced return notes linked to Nasdaq, Russell, S&P
By Angela McDaniels
Tacoma, Wash., Jan. 18 – BofA Finance LLC priced $56,000 of 0% capped enhanced return notes due May 5, 2026 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains, the payout at maturity will be par plus 165% of the worst performing index’s return, subject to a maximum return of par plus 61%.
If the worst performing index declines but finishes at or above its downside threshold level, 70% of its initial level, the payout will be par.
Otherwise, investors will be exposed to the decline in the worst performing index.
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: | Capped enhanced return notes
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| Underlying indexes: | Nasdaq-100 index, the Russell 2000 index and the S&P 500 index
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| Amount: | $56,000
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| Maturity: | May 5, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index gains, par plus 165% of worst performing index’s return, subject to a maximum return of par plus 61%; par if worst performing index declines but finishes at or above downside threshold level; otherwise, exposure to decline in worst performing index
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| Initial levels: | 13,245.99 for Nasdaq, 1,768.987 for Russell and 4,169.48 for S&P
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| Downside threshold levels: | 9,272.19 for Nasdaq, 1,238.291 for Russell and 2,918.64 for S&P, or 70% of initial levels
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| Pricing date: | April 28, 2023
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| Settlement date: | May 3, 2023
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.85%
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| Cusip: | 09709VR40
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