Published on 2/2/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.89 million enhanced return notes on S&P 500 Futures Excess Return
By Wendy Van Sickle
Columbus, Ohio, Feb. 2 – BofA Finance LLC priced $1.89 million of 0% enhanced return notes due Feb. 1, 2029 linked to the S&P 500 Futures Excess Return index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 220% of the index return. The payout will be par if the index falls by up to 30%. Otherwise, investors will have full exposure to losses.
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: | Enhanced return notes
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Underlying index: | S&P 500 Futures Excess Return index
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Amount: | $1,894,000
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Maturity: | Feb. 1, 2029
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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 initial index level, par plus 220% of index return; par if index falls by up to 30%; otherwise, full exposure to losses
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Initial level: | 431.43
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Threshold level: | 302.0, 70% of initial level
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Pricing date: | Jan. 29
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Settlement date: | Feb. 1
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Agent: | BofA Securities, Inc.
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Fees: | 0.925%
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Cusip: | 09710PQH2
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