Published on 8/17/2022 in the Prospect News Structured Products Daily.
New Issue: BofA prices $5.69 million capped buffered enhanced return notes tied to index, ETF
By William Gullotti
Buffalo, N.Y., Aug. 17 – BofA Finance LLC priced $5.69 million of 0% capped buffered enhanced return notes due Nov. 15, 2024 linked to the Nasdaq-100 index and the iShares Russell 1000 Growth ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The payout at maturity will be par plus 300% of any gain in the least performing underlier, up to a to the maximum redemption amount of par plus 37.2%.
Investors will receive par if any underlier falls by up to 10% and will lose 1% for each 1% decline of the worst performer beyond 10%.
BofA Securities, Inc. is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Capped buffered enhanced return notes
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Underlying assets: | Nasdaq-100 index, iShares Russell 1000 Growth ETF
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Amount: | $5,691,000
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Maturity: | Nov. 15, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 300% of any gain in least performing underlier, capped at par plus 37.2%; par if any underlier falls by 10% or less; otherwise, 1% loss per 1% decline of worst performer beyond 10%
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Initial levels: | $255.95 for ETF, 13,565.87 for index
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Buffer levels: | $230.36 for ETF, 12,209.28 for index; 90% of initial levels
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Pricing date: | Aug. 12
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Settlement date: | Aug. 17
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Agent: | BofA Securities, Inc.
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Fees: | None
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Cusip: | 09709U5X2
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