Published on 1/5/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $557,000 0% dual directional buffered notes on indexes
By Kiku Steinfeld
Chicago, Jan. 5 – BofA Finance LLC priced $557,000 of 0% dual directional buffered notes due April 30, 2026 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains, the payout will be par plus 125% of the worst performing index return subject to a maximum return of par plus 34%.
The payout will be par plus the absolute value of the worst performing index return if the worst performing index declines but by no more than the 30% buffer.
Investors will lose 1% for every 1% that the worst performing index declines beyond the buffer.
The securities are non-callable.
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: | Dual directional buffered notes
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $557,000
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| Maturity: | April 30, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index gains, par plus 125% of worst performing index return subject to a maximum return of par plus 34%; par plus absolute value of worst performing index return if worst performing index declines but finishes above 70% threshold value; 1% loss for every 1% that worst performing index declines beyond threshold value
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| Upside leverage: | 125%
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| Cap: | 34%
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| Initial levels: | 1,745.952 for Russell 2000 Index, 4,071.63 for S&P 500 Index
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| Threshold values: | 1,222.166 for Russell 2000 Index, 2,850.14 for S&P 500 Index, 70% of initial level
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| Call: | Non-callable
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| Pricing date: | April 25, 2023
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| Settlement date: | April 28, 2023
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| Agent: | BofA Securities, Inc.
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| Fees: | 2.85%
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| Cusip: | 09709VQL3
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