Published on 8/6/2023 in the Prospect News Structured Products Daily.
New Issue: BofA sells $198,000 enhanced return notes on S&P, Dow
Chicago, Aug. 7 – BofA Finance LLC priced $198,000 of 0% enhanced return notes due July 31, 2026 linked to the least performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
If each index finishes flat or gains, the payout at maturity will be par plus 1.15 times the index gain of the worst performer.
If any index declines by up to 30%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines from its initial level.
BofA Securities, Inc. is the 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 indexes: | S&P 500 index, Dow Jones industrial average
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Amount: | $198,000
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Maturity: | July 31, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.15 times any index gain of lesser performing index; if any index declines by up to 30%, par; otherwise, lose 1% for every 1% that the worst performing index declines from its initial level
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Initial levels: | 35,520.12 for Dow, 4,566.75 for S&P
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Threshold levels: | 24,864.08 for Dow, 3,196.73 for S&P; 70% of initial levels
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Pricing date: | July 26
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Settlement date: | July 31
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Agent: | BofA Securities, Inc.
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Fees: | 2.875%
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Cusip: | 09711A7C6
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