Published on 4/29/2024 in the Prospect News Structured Products Daily.
New Issue: BofA sells $1.29 million enhanced return notes linked to S&P Futures
By William Gullotti
Buffalo, N.Y., April 29 – BofA Finance LLC priced $1.29 million of 0% enhanced return notes due Feb. 26, 2026 linked to the S&P 500 Futures Excess Return index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
If the index gains, the payout at maturity will be par plus 1.105 times the gain.
Otherwise, investors will lose 1% for each 1% that the index declines, subject to a minimum payout of $900 per $1,000 principal amount of notes.
BofA Securities, Inc. is the selling agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Enhanced return notes
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Underlying index: | S&P 500 Futures Excess Return index
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Amount: | $1,289,000
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Maturity: | Feb. 26, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.105 times any index gain; otherwise, lose 1% for every 1% decline of index, subject to a minimum return of $900 per $1,000 principal amount of notes
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Initial level: | 442.65
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Principal protection: | 90%
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Pricing date: | April 23
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Settlement date: | April 26
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Selling agent: | BofA Securities, Inc.
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Fees: | 2.375%
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Cusip: | 09711BPU4
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