New Issue: BofA sells $881,000 capped buffered return notes on S&P 500

By Kiku Steinfeld

Chicago, Oct. 30 – BofA Finance LLC priced $881,000 of capped buffered return notes due April 8, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Bank of America Corp.

If the index finishes above its initial value, the payout at maturity will be par plus the return of the index, subject to a maximum payout of par plus 18.75%.

If the index finishes flat or declines by up to 10%, the payout will be par. Investors will be exposed to any losses beyond the 10% buffer.

The selling agent is BofA Securities, Inc.

Issuer:	BofA Finance LLC
Guarantor:	Bank of America Corp.
Issue:	Capped buffered return notes
Underlying:	S&P 500 index
Amount:	$881,000
Maturity:	April 8, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus the return of the index, capped at 18.75%; par if the index finishes flat or declines by up to 10%; otherwise, 1% loss for every 1% drop below 10%
Initial value:	4,109.31
Buffer level:	3,698.38; 90% of initial level
Pricing date:	March 31, 2023
Settlement date:	April 5, 2023
Selling agent:	BofA Securities, Inc.
Fees:	0.25%
Cusip:	09709VKT2

© 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.