BofA Finance LLC filed a free writing prospectus on November 12, 2026, disclosing summary terms for Performance Leveraged Upside Securities linked to the S&P 500 Index, with a maturity date of March 3, 2028, fully and unconditionally guaranteed by Bank of America Corporation.

Key Highlights

  • Issuer and guarantor: BofA Finance LLC is the issuer; Bank of America Corporation ("BAC") fully and unconditionally guarantees any payments on the PLUS.
  • Stated principal amount and issue price: $1,000.00 per PLUS, with a pricing date of November 30, 2026, and an original issue date of December 3, 2026.
  • Leverage factor: 300.00% applied to the index percent increase when the final index value exceeds the initial index value.
  • Maximum payment at maturity: At least $1,158.50 per PLUS (at least 115.85% of the stated principal amount), with the actual cap set on the pricing date.
  • Estimated value on pricing date: Expected to be between $920.00 and $970.00 per $1,000 in principal amount, according to the filing.
  • Principal at risk: The PLUS do not guarantee repayment of principal; if the final index value is at or below the initial index value, the payment at maturity will be less than or equal to $1,000.
  • No exchange listing: The PLUS will not be listed on any securities exchange; CUSIP is 09712HNL2 and ISIN is US09712HNL23.

Terms and Structure of BofA Finance's S&P 500-Linked PLUS

According to the filing, BofA Finance LLC is offering Performance Leveraged Upside Securities ("PLUS") issued as part of its "Medium-Term Notes, Series A" program under Registration Statement Nos. 333-290665 and 333-290665-01. The securities are linked to the S&P 500 Index (Bloomberg symbol: "SPX"), described in the filing as a price return index. The valuation date is February 29, 2028, subject to postponement as described in the accompanying product supplement, and the maturity date is March 3, 2028.

The filing discloses that if the final index value is greater than the initial index value, the holder receives $1,000 plus a leveraged upside payment equal to $1,000.00 multiplied by the 300.00% leverage factor and the index percent increase, subject to the maximum payment at maturity of at least $1,158.50 per PLUS. If the final index value is less than or equal to the initial index value, the payment at maturity equals $1,000 multiplied by the index performance factor, which the filing states "will be less than or equal to the stated principal amount of $1,000." The PLUS do not bear interest and do not guarantee the repayment of principal.

The filing notes that the price to the public will exceed the initial estimated value, which is expected to be between $920.00 and $970.00 per $1,000 in principal amount. BofA Finance disclosed that it "is a finance subsidiary and, as such, has no independent assets, operations, or revenues." The filing identifies BofA Securities, Inc. ("BofAS") as the distributor and states that any payments are subject to the credit risk of both BofA Finance and BAC as guarantor. The PLUS will not be listed on any securities exchange.

What Was Disclosed

BofA Finance LLC filed a free writing prospectus summarizing the terms of PLUS securities linked to the S&P 500 Index, due March 3, 2028, with a 300.00% leverage factor, a minimum maximum payment of $1,158.50, full principal at risk, and a guarantee by Bank of America Corporation.