Published on 9/14/2022 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.89 million dual directional buffered notes on Dow Jones, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Sept. 14 – BofA Finance LLC priced $1.89 million of 0% dual directional buffered notes due Sept. 12, 2024 linked to the least performing of the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 105.5% of any gain in the least-performing index.
If the least-performing index falls by up to 15%, the payout will be par plus the absolute value of the return of that index.
Otherwise, investors will lose 1% for every 1% decline of the least-performing index beyond 15%.
The notes are guaranteed by Bank of America Corp.
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: | Dual directional buffered notes
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Underlying indexes: | Nasdaq-100 index, Dow Jones industrial average
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Amount: | $1.89 million
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Maturity: | Sept. 12, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 105.5% of any gain in least-performing index; if least-performing index falls by up to 15%, par plus absolute value of return of that index; otherwise, 1% loss for each 1% decline of the worst performer below buffer level
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Initial levels: | 12,588.29 for Nasdaq, 32,151.71 for Dow Jones
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Buffer levels: | 10,700.05 for Nasdaq, 27,328.95 for Dow Jones; 85% of initial levels
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Pricing date: | Sept. 9
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Settlement date: | Sept. 14
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Selling agent: | BofA Securities, Inc.
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Fees: | 0.75%
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Cusip: | 09709U6M5
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