Published on 1/30/2023 in the Prospect News Structured Products Daily.
New Issue: BofA sells $1.72 million capped buffered enhanced return notes on index basket
By Wendy Van Sickle
Columbus, Ohio, Jan. 30 – BofA Finance LLC priced $1.72 million of 0% capped buffered enhanced return notes due Feb. 29, 2024 linked to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Russell 2000 index with a 33.33% weight, the Dow Jones industrial average with a 33.33% weight and the Nasdaq-100 index with a 33.34% weight.
If the basket return is positive, the payout at maturity will be par plus 300% of the basket return, subject to a maximum settlement amount of par plus 15.3%.
Investors will receive par if the basket declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the underwriter.
| 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 indexes: | Russell 2000 index (33.33% weight), Dow Jones industrial average (33.33% weight), Nasdaq-100 index (33.34% weight)
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| Amount: | $1,715,000
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| Maturity: | Feb. 29, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the basket return is positive, the payout at maturity will be par plus 300% of the basket return, subject to a maximum settlement amount of par plus 15.3%; investors will receive par if the basket declines up to 10%; otherwise, lose 1% for every 1% that it declines beyond 10%
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| Initial index levels: | 33,733.96 for Dow, 1,885.611 for Russell, 11,846.64 for Nasdaq
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| Buffer level: | 90% of initial basket level
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 30
|
| Underwriter: | BofA Securities, Inc.
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| Fees: | 0.22%
|
| Cusip: | 09709VFL5
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