Published on 10/2/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $514,000 capped enhanced return notes linked to Nasdaq, Russell, S&P
Chicago, Oct. 2 – BofA Finance LLC priced $514,000 of 0% capped enhanced return notes due Oct. 2, 2025 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the least performing index is greater than or equal to its initial level, the payout at maturity will be par plus three times the return of the least performing index, subject to a maximum return of 51%. If the least performing index’s final level is less than its initial level but greater than or equal to its threshold level, 70% of its initial level, the payout will be par. If the least performing index finishes below its threshold level, investors will be exposed to that index’s decline.
The notes are guaranteed by Bank of America Corp.
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 enhanced return notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $514,000
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| Maturity: | Oct. 2, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of least performing index is greater than or equal to initial level, par plus three times return of least performing index, subject to maximum return of 51%; if least performing index’s final level is less than initial level but greater than or equal to threshold level, par; otherwise, 1% loss for every 1% that least performing index declines from initial level
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| Initial levels: | 11,271.75 for Nasdaq, 1,662.509 for Russell and 3,647.29 for S&P
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| Threshold levels: | 7,890.23 for Nasdaq, 1,163.756 for Russell and 2,553.10 for S&P, or 70% of initial levels
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| Pricing date: | Sept. 27, 2022
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| Settlement date: | Sept. 30, 2022
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| Agent: | BofA Securities, Inc.
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| Fees: | 2.85%
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| Cusip: | 09709U6S2
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