Published on 8/2/2022 in the Prospect News Structured Products Daily.
New Issue: BofA Finance sells $4.91 million Accelerated Return Notes on Pacer ETF
By William Gullotti
Buffalo, N.Y., Aug. 2 – BofA Finance LLC priced $4.91 million of 0% Accelerated Return Notes due Sept. 29, 2023 linked to the Pacer US Cash Cows 100 ETF, 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 of $10 plus triple any ETF gain, subject to a maximum payout of par plus 26.85%.
Investors will be exposed to any ETF decline.
BofA Securities, Inc. is the underwriter.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Accelerated Return Notes
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Underlying fund: | Pacer US Cash Cows 100 ETF
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Amount: | $4,907,380
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Maturity: | Sept. 29, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any ETF gain, capped at par plus 26.85%; otherwise, 1% loss for every 1% decline of ETF from initial value
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Initial value: | $45.59
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Pricing date: | July 28
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Settlement date: | Aug. 4
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Agent: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 09710F785
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