Published on 5/10/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.44 million capped return notes tied to euro vs. dollar exchange rate
By William Gullotti
Buffalo, N.Y., May 10 – BofA Finance LLC priced $1.44 million of 0% capped return notes due May 10, 2024 linked to the euro relative to the U.S. dollar, 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 gain in the exchange rate, capped at par plus 13.25%.
Otherwise, 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 currency: | Euro (versus U.S. dollar)
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Amount: | $1,440,000
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Maturity: | May 10, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any gain in the exchange rate, capped at par plus 13.25%; otherwise, par
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Initial value: | 1.09915
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Pricing date: | May 5
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Settlement date: | May 9
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Agent: | BofA Securities, Inc.
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Fees: | 0.5%
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Cusip: | 09709T7A3
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