Published on 4/18/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $11.61 million dual directional buffered notes on indexes
New York, April 18 – BofA Finance LLC priced $11.61 million of 0% dual directional buffered notes due April 3, 2025 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains the payout will be par plus 100% of the worst performing index return.
The payout will be par plus the absolute value of the worst performing index return if the worst performing index declines but by no more than 20%.
Investors will lose 1% for every 1% that the worst performing index declines beyond 20%.
The securities are non-callable.
The notes are guaranteed by Bank of America Corp.
BofA Securities is the agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Dual directional buffered notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $11,606,000
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| Maturity: | April 3, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index gains par plus 100% of worst performing index return; par plus absolute value of worst performing index return if worst performing index declines but finishes above 80% threshold value; 1% loss for every 1% that worst performing index declines beyond threshold value
|
| Upside leverage: | 100%
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| Cap: | None
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| Threshold values: | 10,545.08 for Nasdaq-100 Index, 1,441.987 for Russell 2000 Index, 3,287.45 for S&P 500 Index, 80% of initial level
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| Initial levels: | 13,181.35 for Nasdaq-100 Index, 1,802.484 for Russell 2000 Index, 4,109.31 for S&P 500 Index
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| Call: | Non-callable
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| Pricing date: | March 31
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| Settlement date: | April 5
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| Agent: | BofA Securities
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| Fees: | 0.25%
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| Cusip: | 09709VPD2
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