Published on 6/28/2022 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.57 million capped Leveraged Index Return Notes on MSCI index
By William Gullotti
Buffalo, N.Y., June 28 – BofA Finance LLC priced $1.57 million of 0% capped Leveraged Index Return Notes due June 28, 2024 linked to the MSCI Emerging Markets index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The payout at maturity will be par of 200% of any index gain, subject to a maximum payout of par plus 28.1%.
If the index falls by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline beyond 10%.
BofA Securities, Inc. is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Capped Leveraged Index Return Notes
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Underlying index: | MSCI Emerging Markets index
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Amount: | $1,572,630
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Maturity: | June 28, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any index gain, capped at par plus 28.1%; if index falls by up to 10%, par; otherwise, 1% loss for every 1% index decline beyond 10%
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Initial level: | 995.34
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Threshold level: | 895.81; 90% of initial level
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Pricing date: | June 23
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Settlement date: | June 30
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 09710F645
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