Published on 4/12/2023 in the Prospect News Structured Products Daily.
New Issue: BofA sells $7.59 million Capped Leveraged Index Return Notes on index basket
By Wendy Van Sickle
Columbus, Ohio, April 12 – BofA Finance LLC priced $7.59 million of 0% Capped Leveraged Index Return Notes due April 25, 2025 linked to a basket of weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 60% weight, Euro Stoxx 50 index with a 12% weight, the MSCI Emerging Markets index with a 10% weight, the FTSE 100 index with a 6% weight, the Nikkei Stock Average index with a 6% weight, the Swiss Market index with a 2.25% weight, the S&P/ASX 200 index with a 2.25% weight and the FTSE China 50 index with a 1.5% weight.
The payout at maturity will be par plus two times any basket gain, up to a maximum return of par plus 20.4%.
If the basket level falls by up to 10% of its initial level, the payout will be par. Investors will lose 1% for every 1% that the basket declines 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.
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| Issue: | Capped Leveraged Index Return Notes
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| Underlying indexes: | S&P 500 index (60% weight), Euro Stoxx 50 index (12% weight), MSCI Emerging Markets index (10% weight), FTSE 100 index (6% weight), Nikkei Stock Average index (6% weight), Swiss Market index (2.25% weight), S&P/ASX 200 index (2.25% weight), FTSE China 50 index (1.5% weight)
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| Amount: | $7,592,520
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| Maturity: | April 25, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 200% of any basket gain, capped at 20.4%; par if basket falls by up to 10%; otherwise, lose 1% for every 1% of basket decline beyond 10%
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| Initial index levels: | 4,105.02 for S&P, 4,309.45 for Stoxx, 27,472.63 for Nikkei, 7,741.56 for FTSE, 11,230.07 for Swiss, 7,218.981 for S&P/ASX, 13,287.35 for FTSE China 50
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| Buffer level: | 90% of initial basket level
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| Pricing date: | April 6
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| Settlement date: | April 13
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| Agent: | BofA Securities, Inc.
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| Fees: | 2%
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| Cusip: | 06054E564
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