By Kiku Steinfeld
Chicago, March 22 – BofA Finance LLC priced $260,000 of 0% dual directional buffered notes due Aug. 5, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains the payout will be par plus 100% of the index return subject to a maximum return of par plus 13%.
The payout will be par plus the absolute value of the index return if the index declines but by no more than the 10% buffer.
Investors will lose 1% for every 1% that the index declines beyond the buffer.
The securities are non-callable.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Dual directional buffered notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $260,000
|
| Maturity: | Aug. 5, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index gains par plus 100% of index return subject to a maximum return of par plus 13%; par plus absolute value of index return if index declines but finishes above 90% buffer value; 1% loss for every 1% that index declines beyond buffer
|
| Upside leverage: | 100%
|
| Cap: | 13%
|
| Buffer value: | 4,005.34, 90% of initial level
|
| Initial level: | 4,450.38
|
| Call: | Non-callable
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| Pricing date: | June 30, 2023
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| Settlement date: | July 6, 2023
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| Agent: | BofA Securities, Inc.
|
| Fees: | 0.7%
|
| Cusip: | 09709VZD1
|
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