Published on 1/5/2024 in the Prospect News Structured Products Daily.
New Issue: BofA Finance sells $164,000 buffered digital return notes on S&P 500
Chicago, Dec. 7 – BofA Finance LLC priced $164,000 of 0% buffered digital return notes due May 31, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The payout at maturity will be par plus 8.25% if the index finishes at or above its initial level.
If the index falls by up to 10%, the payout will be par. Investors will lose 1% for every 1% index decline beyond 10%.
BofA Securities, Inc. is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Buffered digital return notes
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Underlying index: | S&P 500 index
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Amount: | $164,000
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Maturity: | May 31, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 8.25% if index finishes at or above initial level; par if declines by up to 10%; loss of 1% for every 1% index decline beyond 10%
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Initial level: | 4,071.63
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Buffer level: | 3,664.47, 90% of initial levels
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Pricing date: | April 25, 2023
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Settlement date: | April 28, 2023
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Agent: | BofA Securities, Inc.
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Fees: | 2.175%
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Cusip: | 09709VQK5
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