Published on 7/28/2023 in the Prospect News Structured Products Daily.
New Issue: BofA sells $1.32 million enhanced return notes on S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, July 28 – BofA Finance LLC priced $1.32 million of 0% enhanced return notes due July 24, 2026 linked to the least performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
If each index finishes flat or gains, the payout at maturity will be par plus 1.275 times the index gain of the worst performer.
If any index declines by up to 30%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines from its initial level.
BofA Securities, Inc. is the agent.
Issuer: | BofA Finance LLC
|
Guarantor: | Bank of America Corp.
|
Issue: | Enhanced return notes
|
Underlying indexes: | S&P 500 index, Dow Jones industrial average
|
Amount: | $1,319,000
|
Maturity: | July 24, 2026
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus 1.275 times any index gain of lesser performing index; if any index declines by up to 30%, par; otherwise, lose 1% for every 1% that the worst performing index declines from its initial level
|
Initial levels: | 35,227.69 for Dow, 4,536.34 for S&P
|
Threshold levels: | 24,659.38 for Dow, 3,175.44 for S&P; 70% of initial levels
|
Pricing date: | July 21
|
Settlement date: | July 26
|
Agent: | BofA Securities, Inc.
|
Fees: | 0.6%
|
Cusip: | 09711ACF3
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.