Published on 2/12/2023 in the Prospect News Structured Products Daily.
New Issue: BofA Finance sells $875,000 buffered digital return notes on Brent Oil Futures
By Kiku Steinfeld
Chicago, Feb. 13 – BofA Finance LLC priced $875,000 of 0% buffered digital return notes due Nov. 29, 2023 linked to the Brent Crude Oil Futures Contract, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The payout at maturity will be par plus 21% if the index finishes at or above its initial level.
If the index falls by up to 20%, the payout will be par. Investors will lose 1% for every 1% index decline beyond 20%.
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: | Buffered digital return notes
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| Underlying index: | Brent Crude Oil Futures Contract
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| Amount: | $875,000
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| Maturity: | Nov. 29, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 21% if index finishes at or above initial level; par if declines by up to 20%; loss of 1% for every 1% index decline beyond 20%
|
| Initial levels: | $95.99
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| Threshold level: | $76.792, 80% of initial levels
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| Pricing date: | Nov. 11, 2022
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| Settlement date: | Nov. 16, 2022
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| Selling agent: | BofA Securities, Inc.
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| Fees: | 1.5%
|
| Cusip: | 09709T6U0
|
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