Published on 4/9/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $5.85 million leveraged buffered basket-linked notes
By William Gullotti
Buffalo, N.Y., April 9 – BofA Finance LLC priced $5.85 million of 0% leveraged buffered basket-linked notes due June 26, 2026 linked to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 26% weight, the FTSE 100 index with a 17% weight, the Swiss Market index with a 12% weight and the S&P/ASX 200 index with an 9% weight.
The notes are guaranteed by Bank of America Corp.
If the basket return is positive, the payout will be par plus 250% of the gain, subject to a maximum return of par plus 44.5%.
If the basket finishes flat or declines no more than 17.5%, the payout will be par. Otherwise, investors will lose 1.21212% for every 1% decline of the basket beyond 17.5%.
BofA Securities, Inc. is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Leveraged buffered basket-linked notes
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Underlying indexes: | Euro Stoxx 50 (36% weight), Topix (26% weight), FTSE 100 (17% weight), Swiss Market (12% weight), S&P/ASX 200 (9% weight)
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Amount: | $5,851,000
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Maturity: | June 26, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is positive, payout will be par plus 250% of the gain, capped at par plus 44.5%; if the basket declines up to 17.5%, par; otherwise, 1.21212% loss for every 1% decline of the basket beyond 17.5%
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Initial index levels: | 5,069.25 for Euro Stoxx 50, 2,706.51 for Topix, 7,937.44 for FTSE 100, 11,616.87 for Swiss Market, 7,782.535 for S&P/ASX 200
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Buffer level: | 82.5% of initial level
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Pricing date: | April 3
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Settlement date: | April 10
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Agent: | BofA Securities, Inc.
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Fees: | None
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Cusip: | 09711BKP0
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