Published on 2/16/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $66,000 buffered digital return notes linked to S&P
By Angela McDaniels
Tacoma, Wash., Feb. 16 – BofA Finance LLC priced $66,000 of 0% buffered digital return notes due July 31, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the threshold level, 90% of the initial index level, the payout at maturity will be par plus 8%. Otherwise, investors will lose 1% for every 1% that the index declines beyond 10%.
The notes are guaranteed by Bank of America Corp.
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: | $66,000
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Maturity: | July 31, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than or equal to threshold level, par plus 8%; otherwise, 1% loss for every 1% that index declines beyond 10%
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Initial level: | 4,378.41
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Threshold level: | 3,940.57, or 90% of initial level
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Pricing date: | June 27, 2023
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Settlement date: | June 30, 2023
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Agent: | BofA Securities, Inc.
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Fees: | 2.2%
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Cusip: | 09709VZ82
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