[FWP] Bank of America Corporation Free Writing Prospectus
Bank of America Corporation (BAC), through its subsidiary BofA Finance LLC, is marketing Autocallable Leveraged Index Return Notes (LIRNs) linked to the S&P SmallCap 600 Index ("SML").
Key commercial terms:
- Denomination: $10 per unit; no exchange listing planned.
- Term: 鈮�3 years unless automatically called after 鈮�1 year.
- Automatic Call: Notes are redeemed early at $11.125鈥�$11.225 (鈮�11.2% premium) if the SML closes 鈮� Starting Value on the single Observation Date.
- Upside Participation: If held to maturity and not called, investors receive 150% of any positive SML return with no cap.
- Downside Exposure: 1-for-1 loss on any decline in the SML; the Threshold Value equals the Starting Value, so there is no downside buffer.
- Interest Payments: None; all return is via call premium or leveraged payoff.
- Credit: Senior unsecured obligations of BofA Finance, fully and unconditionally guaranteed by BAC.
Risk highlights (as disclosed): potential loss of entire principal, issuer/guarantor credit risk, initial price includes underwriting discount (secondary value likely below issue price), small-cap equity volatility, and lack of liquidity due to absent exchange listing.
Investors considering the notes are advised to review the for complete terms, tax treatment, and additional risks.
Bank of America Corporation (BAC), tramite la sua controllata BofA Finance LLC, sta promuovendo Note di Rendimento Indicizzato Leverage Autocallabili (LIRN) collegate all'Indice S&P SmallCap 600 ("SML").
Principali condizioni commerciali:
- Taglio nominale: 10$ per unit脿; non 猫 prevista la quotazione in borsa.
- Durata: circa 3 anni, salvo richiamo automatico dopo circa 1 anno.
- Richiamo automatico: le note vengono rimborsate anticipatamente a 11,125鈥�11,225$ (premio di circa 11,2%) se l'SML chiude 鈮� al Valore Iniziale nella singola Data di Osservazione.
- Partecipazione al rialzo: se detenute fino alla scadenza senza essere richiamate, gli investitori ricevono il 150% di qualsiasi rendimento positivo dell'SML senza limite massimo.
- Esposizione al ribasso: perdita 1 a 1 su qualsiasi calo dell'SML; il Valore Soglia 猫 pari al Valore Iniziale, quindi non 猫 previsto alcun buffer al ribasso.
- Pagamenti di interessi: nessuno; tutto il rendimento deriva dal premio di richiamo o dal payoff leverage.
- Credito: obbligazioni senior non garantite di BofA Finance, garantite in modo pieno e incondizionato da BAC.
Rischi principali (come indicato): possibile perdita dell鈥檌ntero capitale, rischio di credito dell鈥檈mittente/garante, prezzo iniziale include sconto di collocamento (valore secondario probabilmente inferiore al prezzo di emissione), volatilit脿 delle azioni small-cap e mancanza di liquidit脿 dovuta all鈥檃ssenza di quotazione in borsa.
Gli investitori interessati sono invitati a consultare i per termini completi, trattamento fiscale e rischi aggiuntivi.
Bank of America Corporation (BAC), a trav茅s de su subsidiaria BofA Finance LLC, est谩 ofreciendo Notas de Retorno Indexado Apalancado Autollamables (LIRNs) vinculadas al 脥ndice S&P SmallCap 600 ("SML").
T茅rminos comerciales clave:
- 顿别苍辞尘颈苍补肠颈贸苍: 10$ por unidad; no se planea cotizaci贸n en bolsa.
- Plazo: aproximadamente 3 a帽os, a menos que se llame autom谩ticamente despu茅s de aproximadamente 1 a帽o.
- Llamada autom谩tica: las notas se redimen anticipadamente a 11,125鈥�11,225$ (prima de aproximadamente 11,2%) si el SML cierra 鈮� al Valor Inicial en la 煤nica Fecha de Observaci贸n.
- Participaci贸n al alza: si se mantienen hasta el vencimiento y no se llaman, los inversores reciben el 150% de cualquier rendimiento positivo del SML sin l铆mite m谩ximo.
- Exposici贸n a la baja: p茅rdida 1 a 1 ante cualquier ca铆da del SML; el Valor Umbral es igual al Valor Inicial, por lo que no hay protecci贸n a la baja.
- Pagos de intereses: ninguno; todo el rendimiento proviene de la prima de llamada o del pago apalancado.
- 颁谤茅诲颈迟辞: obligaciones senior no garantizadas de BofA Finance, garantizadas total e incondicionalmente por BAC.
Aspectos de riesgo (seg煤n se indica): posible p茅rdida total del principal, riesgo crediticio del emisor/garante, precio inicial incluye descuento de colocaci贸n (valor secundario probablemente por debajo del precio de emisi贸n), volatilidad de acciones small-cap y falta de liquidez debido a la ausencia de cotizaci贸n en bolsa.
Se recomienda a los inversores interesados revisar los para conocer los t茅rminos completos, tratamiento fiscal y riesgos adicionales.
Bank of America Corporation (BAC)電� 鞛愴殞靷� BofA Finance LLC毳� 韱淀暣 S&P SmallCap 600 歆�靾�("SML")鞐� 鞐半彊霅� 鞛愲彊靸來櫂 霠堧矂毽 歆�靾� 靾橃澋 雲疙姼(LIRNs)毳� 毵堨紑韺呿晿瓿� 鞛堨姷雼堧嫟.
欤检殧 靸侅梾 臁瓣贝:
- 鞎‰┐臧赌: 雼渼雼� 10雼煬; 瓯半灅靻� 靸侅灔鞚� 瓿勴殟霅橃柎 鞛堨 鞎婌姷雼堧嫟.
- 毵岅赴: 鞎� 3雲�, 雼� 鞎� 1雲� 頉� 鞛愲彊靸來櫂 霅� 靾� 鞛堨潓.
- 鞛愲彊靸来櫂: SML鞚� 雼澕 甏�彀办澕鞐� 鞁滌瀾臧� 鞚挫儊鞙茧 毵堦皭頃橂┐ 雲疙姼電� 11.125鈥�11.225雼煬 (鞎� 11.2% 頂勲Μ氙胳梽)搿� 臁瓣赴 靸來櫂霅╇媹雼�.
- 靸侅姽 彀胳棳: 毵岅赴旯岇 氤挫湢頃橁碃 鞛愲彊靸來櫂霅橃 鞎婌潉 瓴届毎, 韴瀽鞛愲姅 SML鞚� 旮嶌爼鞝� 靾橃澋鞐� 雽�頃� 150%毳� 氍挫牅頃滌溂搿� 氚涭姷雼堧嫟.
- 頃橂澖 雲胳稖: SML 頃橂澖 鞁� 1雽�1 靻愳嫟; 鞛勱硠臧掛潃 鞁滌瀾臧�鞕� 霃欖澕頃橃棳 頃橂澖 氤错樃臧� 鞐嗢姷雼堧嫟.
- 鞚挫瀽 歆�旮�: 鞐嗢潓; 氇摖 靾橃澋鞚� 靸來櫂 頂勲Μ氙胳梽 霕愲姅 霠堧矂毽 靾橃澋鞚� 韱淀暣 氚滌儩頃╇媹雼�.
- 鞁犾毄: BofA Finance鞚� 靹犾垳鞙� 氍措嫶氤� 毂勲鞚措┌ BAC臧� 鞝勲┐鞝侅澊瓿� 氍挫“瓯挫爜鞙茧 氤挫頃╇媹雼�.
鞙勴棙 鞖旍暯 (瓿店皽霅� 雮挫毄): 鞗愱笀 鞝勳暋 靻愳嫟 臧�電レ劚, 氚滍枆鞛�/氤挫鞚� 鞁犾毄 鞙勴棙, 齑堦赴 臧�瓴╈棎 鞚胳垬 靾橃垬耄� 韽暔(2彀� 鞁滌灔 臧�瓴╈潃 氚滍枆臧� 鞚错晿鞚� 臧�電レ劚), 鞀る旌� 欤检嫕 氤�霃欖劚, 瓯半灅靻� 氙胳儊鞛レ溂搿� 鞚疙暅 鞙犽彊靹� 攵�臁�.
雲疙姼 韴瀽毳� 瓿犽牑頃橂姅 韴瀽鞛愲姅 毳� 瓴�韱犿晿鞐� 鞝勳泊 臁瓣贝, 靹戈笀 觳橂Μ 氚� 於旉皜 鞙勴棙鞚� 頇曥澑頃橃嫓旮� 氚旊瀺雼堧嫟.
Bank of America Corporation (BAC), par l'interm茅diaire de sa filiale BofA Finance LLC, commercialise des Notes de Rendement Indiciel 脿 Effet de Levier Autocallables (LIRNs) li茅es 脿 l'Indice S&P SmallCap 600 ("SML").
Principaux termes commerciaux :
- Valeur nominale : 10$ par unit茅 ; aucune cotation en bourse pr茅vue.
- Dur茅e : environ 3 ans, sauf rappel automatique apr猫s environ 1 an.
- Rappel automatique : les notes sont rembours茅es par anticipation 脿 11,125鈥�11,225$ (prime d'environ 11,2%) si le SML cl么ture 鈮� 脿 la Valeur de D茅part 脿 la date d'observation unique.
- Participation 脿 la hausse : si d茅tenues jusqu'脿 l'茅ch茅ance sans rappel, les investisseurs re莽oivent 150% de toute performance positive du SML sans plafond.
- Exposition 脿 la baisse : perte 1 pour 1 sur toute baisse du SML ; la Valeur Seuil est 茅gale 脿 la Valeur de D茅part, il n'y a donc aucune protection 脿 la baisse.
- Paiements d'int茅r锚ts : aucun ; tout le rendement provient de la prime de rappel ou du paiement 脿 effet de levier.
- Cr茅dit : obligations senior non garanties de BofA Finance, garanties de mani猫re pleine et inconditionnelle par BAC.
Points cl茅s de risque (comme indiqu茅) : perte potentielle du capital total, risque de cr茅dit de l鈥櫭﹎etteur/garant, prix initial incluant une d茅cote de souscription (valeur secondaire probablement inf茅rieure au prix d鈥櫭﹎ission), volatilit茅 des actions small-cap et manque de liquidit茅 d没 脿 l鈥檃bsence de cotation en bourse.
Les investisseurs int茅ress茅s sont invit茅s 脿 consulter les pour les termes complets, le traitement fiscal et les risques suppl茅mentaires.
Bank of America Corporation (BAC) vermarktet 眉ber seine Tochtergesellschaft BofA Finance LLC Autocallable Leveraged Index Return Notes (LIRNs), die an den S&P SmallCap 600 Index ("SML") gekoppelt sind.
Wichtige kommerzielle Bedingungen:
- Nennwert: 10$ pro Einheit; keine B枚rsennotierung geplant.
- Laufzeit: ca. 3 Jahre, sofern nicht nach ca. 1 Jahr automatisch zur眉ckgerufen.
- Automatischer R眉ckruf: Die Notes werden vorzeitig zu 11,125鈥�11,225$ (ca. 11,2% Pr盲mie) zur眉ckgezahlt, wenn der SML am einzigen Beobachtungstag 鈮� Startwert schlie脽t.
- 础耻蹿飞盲谤迟蝉迟别颈濒苍补丑尘别: Wird bis zur F盲lligkeit gehalten und nicht zur眉ckgerufen, erhalten Anleger 150% der positiven SML-Rendite ohne Obergrenze.
- 础产飞盲谤迟蝉谤颈蝉颈办辞: 1-zu-1 Verlust bei Kursr眉ckgang des SML; der Schwellenwert entspricht dem Startwert, es gibt also keinen Abw盲rtspuffer.
- Zinszahlungen: Keine; alle Renditen erfolgen 眉ber R眉ckrufpr盲mie oder gehebelte Auszahlung.
- Kredit: Senior unbesicherte Verbindlichkeiten von BofA Finance, vollst盲ndig und bedingungslos von BAC garantiert.
Risikohinweise (laut Offenlegung): potenzieller Totalverlust des Kapitals, Emittenten-/Garanten-Kreditrisiko, Ausgabeaufschlag im Anfangspreis enthalten (Sekund盲rwert wahrscheinlich unter Ausgabepreis), Small-Cap-Volatilit盲t und mangelnde Liquidit盲t aufgrund fehlender B枚rsennotierung.
Anleger, die die Notes in Erw盲gung ziehen, sollten die f眉r vollst盲ndige Bedingungen, steuerliche Behandlung und weitere Risiken pr眉fen.
- 150% participation rate provides leveraged upside on any appreciation in the S&P SmallCap 600 Index.
- Automatic call feature allows an 鈮�11% absolute return in one year if the index is flat or higher, delivering time-efficient gains.
- Full BAC guarantee offers investors exposure to an investment-grade credit rather than a standalone issuer.
- No downside buffer; any decline in the index translates into a 1-for-1 loss of principal up to 100%.
- Credit risk of BofA Finance and BAC means noteholders are unsecured creditors and could lose all capital upon default.
- Liquidity risk due to lack of exchange listing; secondary market values may be materially below issue price.
- Capped return if automatically called; upside is limited to 鈮�11% for the first year despite 150% participation thereafter.
- Initial estimated value below offer price, indicating an immediate mark-to-market drag at issuance.
Insights
TL;DR: High-leverage upside but zero buffer makes this an aggressive, credit-sensitive play; impact on BAC immaterial.
The note offers a straightforward 150% participation on SML gains and an 11% one-year call premium, but with 1-for-1 downside below par, investors bear significant market risk. The absence of a lower threshold distinguishes it from buffered notes鈥攙olatility in small-caps can quickly erode principal. From a credit standpoint, BAC's investment-grade status mitigates, but does not eliminate, counterparty risk. Pricing will likely be 1.5鈥�2.5 points below offer, reflecting hedging costs and fees. For BAC, this is routine structured-note issuance that marginally diversifies funding; it neither alters capital ratios nor earnings outlook, hence neutral corporate impact.
TL;DR: Product suits tactical bulls on small-caps seeking leverage, but risk-return unattractive for core portfolios.
Investors effectively write a down-and-in put on the SML while buying 1.5脳 upside鈥攁t the cost of liquidity and credit exposure. The single observation date limits upside duration; if called, maximum return (~11%) lags historical one-year SML volatility, capping payoff when investors are most right. Conversely, a flat or declining index locks buyers into full downside through maturity. Given elevated small-cap beta and looming rate uncertainty, probability-weighted returns seem modest versus simply purchasing an ETF. I view the structure as suitable only for speculative allocations; from a portfolio construction view, it is not impactful to BAC equity but carries material risk to noteholders.
Bank of America Corporation (BAC), tramite la sua controllata BofA Finance LLC, sta promuovendo Note di Rendimento Indicizzato Leverage Autocallabili (LIRN) collegate all'Indice S&P SmallCap 600 ("SML").
Principali condizioni commerciali:
- Taglio nominale: 10$ per unit脿; non 猫 prevista la quotazione in borsa.
- Durata: circa 3 anni, salvo richiamo automatico dopo circa 1 anno.
- Richiamo automatico: le note vengono rimborsate anticipatamente a 11,125鈥�11,225$ (premio di circa 11,2%) se l'SML chiude 鈮� al Valore Iniziale nella singola Data di Osservazione.
- Partecipazione al rialzo: se detenute fino alla scadenza senza essere richiamate, gli investitori ricevono il 150% di qualsiasi rendimento positivo dell'SML senza limite massimo.
- Esposizione al ribasso: perdita 1 a 1 su qualsiasi calo dell'SML; il Valore Soglia 猫 pari al Valore Iniziale, quindi non 猫 previsto alcun buffer al ribasso.
- Pagamenti di interessi: nessuno; tutto il rendimento deriva dal premio di richiamo o dal payoff leverage.
- Credito: obbligazioni senior non garantite di BofA Finance, garantite in modo pieno e incondizionato da BAC.
Rischi principali (come indicato): possibile perdita dell鈥檌ntero capitale, rischio di credito dell鈥檈mittente/garante, prezzo iniziale include sconto di collocamento (valore secondario probabilmente inferiore al prezzo di emissione), volatilit脿 delle azioni small-cap e mancanza di liquidit脿 dovuta all鈥檃ssenza di quotazione in borsa.
Gli investitori interessati sono invitati a consultare i per termini completi, trattamento fiscale e rischi aggiuntivi.
Bank of America Corporation (BAC), a trav茅s de su subsidiaria BofA Finance LLC, est谩 ofreciendo Notas de Retorno Indexado Apalancado Autollamables (LIRNs) vinculadas al 脥ndice S&P SmallCap 600 ("SML").
T茅rminos comerciales clave:
- 顿别苍辞尘颈苍补肠颈贸苍: 10$ por unidad; no se planea cotizaci贸n en bolsa.
- Plazo: aproximadamente 3 a帽os, a menos que se llame autom谩ticamente despu茅s de aproximadamente 1 a帽o.
- Llamada autom谩tica: las notas se redimen anticipadamente a 11,125鈥�11,225$ (prima de aproximadamente 11,2%) si el SML cierra 鈮� al Valor Inicial en la 煤nica Fecha de Observaci贸n.
- Participaci贸n al alza: si se mantienen hasta el vencimiento y no se llaman, los inversores reciben el 150% de cualquier rendimiento positivo del SML sin l铆mite m谩ximo.
- Exposici贸n a la baja: p茅rdida 1 a 1 ante cualquier ca铆da del SML; el Valor Umbral es igual al Valor Inicial, por lo que no hay protecci贸n a la baja.
- Pagos de intereses: ninguno; todo el rendimiento proviene de la prima de llamada o del pago apalancado.
- 颁谤茅诲颈迟辞: obligaciones senior no garantizadas de BofA Finance, garantizadas total e incondicionalmente por BAC.
Aspectos de riesgo (seg煤n se indica): posible p茅rdida total del principal, riesgo crediticio del emisor/garante, precio inicial incluye descuento de colocaci贸n (valor secundario probablemente por debajo del precio de emisi贸n), volatilidad de acciones small-cap y falta de liquidez debido a la ausencia de cotizaci贸n en bolsa.
Se recomienda a los inversores interesados revisar los para conocer los t茅rminos completos, tratamiento fiscal y riesgos adicionales.
Bank of America Corporation (BAC)電� 鞛愴殞靷� BofA Finance LLC毳� 韱淀暣 S&P SmallCap 600 歆�靾�("SML")鞐� 鞐半彊霅� 鞛愲彊靸來櫂 霠堧矂毽 歆�靾� 靾橃澋 雲疙姼(LIRNs)毳� 毵堨紑韺呿晿瓿� 鞛堨姷雼堧嫟.
欤检殧 靸侅梾 臁瓣贝:
- 鞎‰┐臧赌: 雼渼雼� 10雼煬; 瓯半灅靻� 靸侅灔鞚� 瓿勴殟霅橃柎 鞛堨 鞎婌姷雼堧嫟.
- 毵岅赴: 鞎� 3雲�, 雼� 鞎� 1雲� 頉� 鞛愲彊靸來櫂 霅� 靾� 鞛堨潓.
- 鞛愲彊靸来櫂: SML鞚� 雼澕 甏�彀办澕鞐� 鞁滌瀾臧� 鞚挫儊鞙茧 毵堦皭頃橂┐ 雲疙姼電� 11.125鈥�11.225雼煬 (鞎� 11.2% 頂勲Μ氙胳梽)搿� 臁瓣赴 靸來櫂霅╇媹雼�.
- 靸侅姽 彀胳棳: 毵岅赴旯岇 氤挫湢頃橁碃 鞛愲彊靸來櫂霅橃 鞎婌潉 瓴届毎, 韴瀽鞛愲姅 SML鞚� 旮嶌爼鞝� 靾橃澋鞐� 雽�頃� 150%毳� 氍挫牅頃滌溂搿� 氚涭姷雼堧嫟.
- 頃橂澖 雲胳稖: SML 頃橂澖 鞁� 1雽�1 靻愳嫟; 鞛勱硠臧掛潃 鞁滌瀾臧�鞕� 霃欖澕頃橃棳 頃橂澖 氤错樃臧� 鞐嗢姷雼堧嫟.
- 鞚挫瀽 歆�旮�: 鞐嗢潓; 氇摖 靾橃澋鞚� 靸來櫂 頂勲Μ氙胳梽 霕愲姅 霠堧矂毽 靾橃澋鞚� 韱淀暣 氚滌儩頃╇媹雼�.
- 鞁犾毄: BofA Finance鞚� 靹犾垳鞙� 氍措嫶氤� 毂勲鞚措┌ BAC臧� 鞝勲┐鞝侅澊瓿� 氍挫“瓯挫爜鞙茧 氤挫頃╇媹雼�.
鞙勴棙 鞖旍暯 (瓿店皽霅� 雮挫毄): 鞗愱笀 鞝勳暋 靻愳嫟 臧�電レ劚, 氚滍枆鞛�/氤挫鞚� 鞁犾毄 鞙勴棙, 齑堦赴 臧�瓴╈棎 鞚胳垬 靾橃垬耄� 韽暔(2彀� 鞁滌灔 臧�瓴╈潃 氚滍枆臧� 鞚错晿鞚� 臧�電レ劚), 鞀る旌� 欤检嫕 氤�霃欖劚, 瓯半灅靻� 氙胳儊鞛レ溂搿� 鞚疙暅 鞙犽彊靹� 攵�臁�.
雲疙姼 韴瀽毳� 瓿犽牑頃橂姅 韴瀽鞛愲姅 毳� 瓴�韱犿晿鞐� 鞝勳泊 臁瓣贝, 靹戈笀 觳橂Μ 氚� 於旉皜 鞙勴棙鞚� 頇曥澑頃橃嫓旮� 氚旊瀺雼堧嫟.
Bank of America Corporation (BAC), par l'interm茅diaire de sa filiale BofA Finance LLC, commercialise des Notes de Rendement Indiciel 脿 Effet de Levier Autocallables (LIRNs) li茅es 脿 l'Indice S&P SmallCap 600 ("SML").
Principaux termes commerciaux :
- Valeur nominale : 10$ par unit茅 ; aucune cotation en bourse pr茅vue.
- Dur茅e : environ 3 ans, sauf rappel automatique apr猫s environ 1 an.
- Rappel automatique : les notes sont rembours茅es par anticipation 脿 11,125鈥�11,225$ (prime d'environ 11,2%) si le SML cl么ture 鈮� 脿 la Valeur de D茅part 脿 la date d'observation unique.
- Participation 脿 la hausse : si d茅tenues jusqu'脿 l'茅ch茅ance sans rappel, les investisseurs re莽oivent 150% de toute performance positive du SML sans plafond.
- Exposition 脿 la baisse : perte 1 pour 1 sur toute baisse du SML ; la Valeur Seuil est 茅gale 脿 la Valeur de D茅part, il n'y a donc aucune protection 脿 la baisse.
- Paiements d'int茅r锚ts : aucun ; tout le rendement provient de la prime de rappel ou du paiement 脿 effet de levier.
- Cr茅dit : obligations senior non garanties de BofA Finance, garanties de mani猫re pleine et inconditionnelle par BAC.
Points cl茅s de risque (comme indiqu茅) : perte potentielle du capital total, risque de cr茅dit de l鈥櫭﹎etteur/garant, prix initial incluant une d茅cote de souscription (valeur secondaire probablement inf茅rieure au prix d鈥櫭﹎ission), volatilit茅 des actions small-cap et manque de liquidit茅 d没 脿 l鈥檃bsence de cotation en bourse.
Les investisseurs int茅ress茅s sont invit茅s 脿 consulter les pour les termes complets, le traitement fiscal et les risques suppl茅mentaires.
Bank of America Corporation (BAC) vermarktet 眉ber seine Tochtergesellschaft BofA Finance LLC Autocallable Leveraged Index Return Notes (LIRNs), die an den S&P SmallCap 600 Index ("SML") gekoppelt sind.
Wichtige kommerzielle Bedingungen:
- Nennwert: 10$ pro Einheit; keine B枚rsennotierung geplant.
- Laufzeit: ca. 3 Jahre, sofern nicht nach ca. 1 Jahr automatisch zur眉ckgerufen.
- Automatischer R眉ckruf: Die Notes werden vorzeitig zu 11,125鈥�11,225$ (ca. 11,2% Pr盲mie) zur眉ckgezahlt, wenn der SML am einzigen Beobachtungstag 鈮� Startwert schlie脽t.
- 础耻蹿飞盲谤迟蝉迟别颈濒苍补丑尘别: Wird bis zur F盲lligkeit gehalten und nicht zur眉ckgerufen, erhalten Anleger 150% der positiven SML-Rendite ohne Obergrenze.
- 础产飞盲谤迟蝉谤颈蝉颈办辞: 1-zu-1 Verlust bei Kursr眉ckgang des SML; der Schwellenwert entspricht dem Startwert, es gibt also keinen Abw盲rtspuffer.
- Zinszahlungen: Keine; alle Renditen erfolgen 眉ber R眉ckrufpr盲mie oder gehebelte Auszahlung.
- Kredit: Senior unbesicherte Verbindlichkeiten von BofA Finance, vollst盲ndig und bedingungslos von BAC garantiert.
Risikohinweise (laut Offenlegung): potenzieller Totalverlust des Kapitals, Emittenten-/Garanten-Kreditrisiko, Ausgabeaufschlag im Anfangspreis enthalten (Sekund盲rwert wahrscheinlich unter Ausgabepreis), Small-Cap-Volatilit盲t und mangelnde Liquidit盲t aufgrund fehlender B枚rsennotierung.
Anleger, die die Notes in Erw盲gung ziehen, sollten die f眉r vollst盲ndige Bedingungen, steuerliche Behandlung und weitere Risiken pr眉fen.
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AUTOCALLABLE LEVERAGED INDEX RETURN NOTES® (LIRNs®)
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Filed Pursuant to Rule 433
Registration No. 333-268718
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Autocallable LIRNs® Linked to the S&P SmallCap 600® Index
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The graph above and the table below reflect the hypothetical return on the notes, based on the terms contained in the table to the left (using the mid-point for any range(s)). The graph and table have been prepared for purposes of illustration only, assume that the notes are not called on any Observation Date and do not take into account any tax consequences from investing in the notes.
Hypothetical Percentage Change from the Starting Value to the Ending Value
Hypothetical Redemption Amount per Unit
Hypothetical Total Rate of Return on the Notes
-100.00%
$0.00
-100.00%
-75.00%
$2.50
-75.00%
-50.00%
$5.00
-50.00%
-40.00%
$6.00
-40.00%
-30.00%
$7.00
-30.00%
-20.00%
$8.00
-20.00%
-10.00%
$9.00
-10.00%
-5.00%
$9.50
-5.00%
0.00% (1)(2)
$10.00
0.00%
5.00%
$11.50
15.00%
10.00%
$13.00
30.00%
20.00%
$14.50
45.00%
30.00%
$16.00
60.00%
40.00%
$17.50
75.00%
50.00%
$0.00
-100.00%
(1) This is the hypothetical Threshold Value.
(2) This hypothetical percentage change corresponds to the hypothetical Starting Value.
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Issuer
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BofA Finance LLC (“BofA Finance”)
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Guarantor
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Bank of America Corporation (“BAC”)
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Principal Amount
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$10.00 per unit
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Term
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Approximately three years, if not called
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Market Measure
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The S&P SmallCap 600® Index (Bloomberg symbol: "SML")
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Automatic Call
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The notes will be called automatically on the Observation Date if the closing level of the Market Measure is equal to or greater than the Call Level
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Call Level
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100.00% of the Starting Value
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Observation Date
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Approximately one year from the pricing date
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Call Amounts
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[$11.125 - $11.225] per unit if called on the Observation Date, to be determined on the pricing date
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Payout Profile at Maturity
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●
150% leveraged upside exposure to increases in the Market Measure
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1-to-1 downside exposure to decreases in the Market Measure, with up to 100% of your principal at risk
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Participation Rate
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150.00%
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Threshold Value
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100% of the Starting Value of the Market Measure
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Interest Payments
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None
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Preliminary Offering Documents
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https://www.sec.gov/Archives/edgar/data/70858/000191870425010761/bofa-34248_424b2.htm
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Exchange Listing
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No
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You should read the relevant Preliminary Offering Documents before you invest. Click on the Preliminary Offering Documents hyperlink above or call your Financial Advisor for a hard copy.
Risk factors
Please see the Preliminary Offering Documents for a description of certain risks related to this investment, including, but not limited to, the following:
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If the notes are not automatically called, depending on the performance of the Market Measure as measured shortly before the maturity date, your investment may result in a loss; there is no guaranteed return of principal.
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If the notes are called, your return on the notes is limited to the return represented by the Call Premium.
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Payments on the notes are subject to the credit risk of BofA Finance and the credit risk of BAC, and actual or perceived changes in the creditworthiness of BofA Finance or BAC are expected to affect the value of the notes. If BofA Finance and BAC become insolvent or are unable to pay their respective obligations, you may lose your entire investment.
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The initial estimated value of the notes on the pricing date will be less than their public offering price.
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If you attempt to sell the notes prior to maturity, their market value may be lower than both the public offering price and the initial estimated value of the notes on the pricing date.
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You will have no rights of a holder of the securities represented by the Market Measure, and you will not be entitled to receive securities or dividends or other distributions by the issuers of those securities.
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The notes are subject to risks associated with small-size capitalization companies.
Final terms will be set on the pricing date within the given range for the specified Market-Linked Investment. Please see the Preliminary Offering Documents for complete product disclosure, including related risks and tax disclosure.
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Source:
FAQ
What is the maximum one-year return on BAC's Autocallable LIRNs?
How much upside do the notes provide if held to maturity?
Is my principal protected in these BAC structured notes?
Who guarantees payment on the Autocallable LIRNs?
When is the Observation Date for potential automatic call?
Are the notes listed on an exchange for secondary trading?
