Published on 10/16/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $605,000 capped buffered enhanced return notes linked to S&P 500
By Kiku Steinfeld
Chicago, Oct. 16 – BofA Finance LLC priced $605,000 of 0% capped buffered enhanced return notes due Sept. 30, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the index is greater than or equal to its initial level, the payout at maturity will be par plus 1.5 times the return, subject to a maximum return of 17.25%. If the index’s final level is less than its initial level but greater than or equal to its buffer level, 90% of its initial level, the payout will be par. If the index finishes below its buffer level, investors will be exposed its decline beyond 10%.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
Issuer: | BofA Finance LLC
|
Guarantor: | Bank of America Corp.
|
Issue: | Capped buffered enhanced return notes
|
Underlying index: | S&P 500
|
Amount: | $605,000
|
Maturity: | Sept. 30, 2024
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If final level of the index is greater than or equal to initial level, par plus 1.5 times return, subject to maximum return of 17.25%; if index’s final level is less than initial level but greater than or equal to buffer level, par; otherwise, 1% loss for every 1% decline beyond 10%
|
Initial level: | 3,971.27
|
Buffer level: | 3,574.14, 90% of initial level
|
Pricing date: | March 28, 2023
|
Settlement date: | March 31, 2023
|
Agent: | BofA Securities, Inc.
|
Fees: | 2.175%
|
Cusip: | 09709VKU9
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.