Published on 12/7/2023 in the Prospect News Structured Products Daily.
New Issue: BofA Finance sells $641,000 buffered digital return notes on S&P 500
Chicago, Dec. 7 – BofA Finance LLC priced $641,000 of 0% buffered digital return notes due Oct. 24, 2025 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.
The payout at maturity will be par plus 35.36% if the index finishes at or above its initial level.
If the index falls by up to 17%, the payout will be par. Investors will lose 1% for every 1% index decline beyond 17%.
BofA Securities, Inc. is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Buffered digital return notes
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Underlying index: | S&P 500 index
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Amount: | $641,000
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Maturity: | Oct. 24, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 35.36% if index finishes at or above initial level; par if declines by up to 17%; loss of 1% for every 1% index decline beyond 17%
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Initial level: | 3,901.06
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Threshold level: | 3,237.88, 83% of initial levels
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Pricing date: | Oct. 28, 2022
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Settlement date: | Nov. 2, 2022
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Agent: | BofA Securities, Inc.
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Fees: | 0.25%
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Cusip: | 09709V7A8
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