By Kiku Steinfeld
Chicago, April 26 – BofA Finance LLC priced $341,000 of 0% dual directional buffered notes due Sept. 30, 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 10%.
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
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Guarantor: | Bank of America Corp.
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Issue: | Dual directional buffered notes
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Underlying index: | S&P 500
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Amount: | $341,000
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Maturity: | Sept. 30, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains par plus 100% of index return subject to a maximum return of par plus 10%; par plus absolute value of index return if index declines but finishes above 90% threshold value; 1% loss for every 1% that index declines beyond threshold value
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Upside leverage: | 100%
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Cap: | 10%
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Buffer value: | 4,110.08, 90% of initial level
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Initial level: | 4,566.75
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Call: | Non-callable
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Pricing date: | July 26, 2023
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Settlement date: | July 31, 2023
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Agent: | BofA Securities, Inc.
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Fees: | 2.2%
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Cusip: | 09711A7B8
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