Published on 9/5/2023 in the Prospect News Structured Products Daily.
New Issue: BofA sells $526,000 enhanced return notes on indexes, ETF
By Kiku Steinfeld
Chicago, Sept. 5 – BofA Finance LLC priced $526,000 of 0% enhanced return notes due March 2, 2028 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
If all assets gain, the payout at maturity will be par plus 1.82 times the gain of the worst performer.
If any asset declines by up to 30%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the worst performing asset declines from its initial level.
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: | Enhanced return notes
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Underlying assets: | S&P 500 index, Russell 2000 index and Technology Select Sector SPDR fund
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Amount: | $526,000
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Maturity: | March 2, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.82 times any gain of least performing asset; if any asset declines by up to 30%, par; otherwise, investors will lose 1% for every 1% the worst performing asset declines from its initial level
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Initial levels: | $136.52 for fund, 3,970.15 for S&P, 1,896.991 for Russell
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Threshold levels: | $95.56 for fund, 2,779.11 for S&P, 1,327.894 for Russell, 70% of initial levels
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Pricing date: | Feb. 28, 2023
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Settlement date: | March 3, 2023
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Selling agent: | BofA Securities, Inc.
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Fees: | 0.5%
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Cusip: | 09709VJA5
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