Published on 3/24/2023 in the Prospect News Structured Products Daily.
New Issue: BofA sells $1.24 million capped return notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, March 24 – BofA Finance LLC priced $1.24 million of 0% capped return notes due March 25, 2025 linked to the S&P 500 index, 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 any index gain, capped at $1,178 per $1,000 note.
If the index falls or finishes flat, the payout will be par.
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 return notes
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Underlying index: | S&P 500 index
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Amount: | $1,235,000
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Maturity: | March 25, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, capped at $1,178 per $1,000 note; par if index falls or finishes flat
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Initial value: | 3,951.57
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Pricing date: | March 20
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Settlement date: | March 23
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Agent: | BofA Securities, Inc.
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Fees: | 0.25%
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Cusip: | 09709VLA2
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