Published on 3/28/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.52 million leveraged buffered index-linked notes tied to MSCI EAFE
By Wendy Van Sickle
Columbus, Ohio, March 28 – BofA Finance LLC priced $3.52 million of 0% leveraged buffered index-linked notes due Nov. 14, 2025 linked to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
If the index return is positive, the payout will be par plus 250% of the gain, subject to a maximum return of par plus 21.025%.
If the index finishes flat or declines by no more than 15%, the payout will be par. Otherwise, investors will lose 1.17647% for every 1% decline of the index beyond 15%.
BofA Securities, Inc. is the agent. iCapital Markets LLC is the dealer.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Leveraged buffered index-linked notes
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Underlying index: | MSCI EAFE index
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Amount: | $3,523,000
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Maturity: | Nov. 14, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 250% of the gain, capped at par plus 21.025%; if the index declines up to 15%, par; otherwise, 1.17647% loss for every 1% decline beyond 15%
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Initial level: | 2,351.57
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Buffer level: | 85% of initial level
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Pricing date: | March 22
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Settlement date: | April 1
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Agent: | BofA Securities, Inc.
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Dealer: | iCapital Markets LLC
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Fees: | None
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Cusip: | 09711BEE2
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