Published on 2/16/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $222,000 enhanced return notes linked to Dow, S&P
By Angela McDaniels
Tacoma, Wash., Feb. 16 – BofA Finance LLC priced $222,000 of 0% enhanced return notes due June 30, 2026 linked to the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser performing index’s final level is greater than its initial level, the payout at maturity will be par plus 120% of the lesser performing index’s return.
If the lesser performing index’s final level is less than or equal to its initial level but greater than or equal to its threshold level, 70% of its initial level, the payout will be par.
If the lesser performing index’s final level is less than its threshold level, investors will lose 1% for every 1% that the lesser performing index declines from its initial level.
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 indexes: | Dow Jones industrial average and S&P 500 index
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| Amount: | $222,000
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| Maturity: | June 30, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If lesser performing index’s final level is greater than initial level, par plus 120% of lesser performing index’s return; if lesser performing index’s final level is less than or equal to initial level but greater than or equal to threshold level, par; otherwise, 1% loss for every 1% that lesser performing index declines from initial level
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| Initial levels: | 33,926.74 for Dow and 4,378.41 for S&P
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| Threshold levels: | 23,748.72 for Dow and 3,064.89 for S&P, or 70% of initial levels
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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: | 2.875%
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| Cusip: | 09709VZB5
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