Published on 2/11/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $678,000 dual directional buffered notes linked to S&P 500
Chicago, Feb. 11 – BofA Finance LLC priced $678,000 of 0% dual directional buffered notes due June 28, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains, the payout will be par plus the index return, subject to a maximum return of par plus 10%.
The payout will be par plus the absolute value of the index return if the index declines by no more than 10%.
Otherwise, investors will lose 1% for every 1% that the index declines beyond the 10% buffer.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Dual directional buffered notes
|
| Underlying index: | S&P 500 index
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| Amount: | $678,000
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| Maturity: | June 28, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If index gains, par plus index return, subject to a maximum return of par plus 10%; par plus absolute value of index return if index declines but finishes at or above 90% threshold value; otherwise, 1% loss for every 1% that index declines beyond 10%
|
| Initial level: | 4,151.28
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| Threshold value: | 3,736.15, 90% of initial level
|
| Pricing date: | May 25, 2023
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| Settlement date: | May 31, 2023
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| Agent: | BofA Securities, Inc.
|
| Fees: | 2.175%
|
| Cusip: | 09709VU87
|
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