BofA Finance LLC filed a free writing prospectus on October 27, 2026, disclosing terms for Market Linked Securities linked to the lowest performing of the Russell 2000 Index and the S&P 500 Index, with a scheduled maturity of November 17, 2027.

Key Highlights

  • Underlying benchmark: Payment at maturity is tied to the lowest performing of the Russell 2000 Index and the S&P 500 Index, not the average of the two.
  • Upside participation: The securities carry a 150% Upside Participation Rate, subject to a Maximum Return of at least 15.50% (at least $155.00 per $1,000 Security), to be set on the Pricing Date.
  • Buffer protection: A 10% Buffer Amount applies, with a Threshold Value equal to 90% of each Underlying's Starting Value.
  • Principal at risk: If the Ending Value of the Lowest Performing Underlying falls below its Threshold Value, investors face 1-to-1 downside exposure beyond the buffer and could lose up to 90% of principal.
  • Initial estimated value: The initial estimated value of the Securities as of the Pricing Date is expected to be between $915.00 and $965.00 per Security, less than the public offering price.
  • Underwriting discount: Up to 2.325% per Security; dealers may receive a selling concession of 1.75% per Security, with Wells Fargo Advisors potentially receiving an additional distribution expense fee of 0.075% per Security.
  • Key dates: Pricing Date is November 2, 2026, Issue Date is November 5, 2026, and Calculation Day is November 12, 2027, all subject to change.

BofA Finance Dual-Index Structured Note: Structure and Risk Profile

According to the filing, BofA Finance LLC is the issuer and Bank of America Corporation serves as the full and unconditional guarantor of the securities. The notes are denominated in $1,000 increments and are registered under Registration Statement Nos. 333-290665 and 333-290665-01. The CUSIP assigned is 09712HHJ4. BofA Securities, Inc., an affiliate of BofA Finance, is named as Calculation Agent.

The filing describes a tiered maturity payment structure. If the Ending Value of the Lowest Performing Underlying exceeds its Starting Value, investors receive $1,000 plus a leveraged gain, capped at the Maximum Return of at least 15.50%. If the Ending Value is at or below the Starting Value but at or above the Threshold Value (90% of Starting Value), investors receive exactly $1,000. Below the Threshold Value, the filing states investors "will have 1-to-1 downside exposure to the decrease in the level of the Underlying in excess of the Buffer Amount and will lose some, and possibly up to 90%, of the principal amount." The securities do not bear interest.

The filing identifies several risk considerations, including that any payment depends on the credit risk of both BofA Finance and Bank of America Corporation as guarantor, that no trading market may develop for the securities, and that the securities "are not designed to be short-term trading instruments." The filing also notes that the U.S. federal income and estate tax consequences "are uncertain, and may be adverse to a holder of the Securities," and directs investors to the preliminary pricing supplement dated October 27, 2026 for full details. The accompanying product supplement referenced is Product Supplement No. WF-1 dated December 8, 2025.

What Was Disclosed

BofA Finance LLC disclosed a term sheet for principal-at-risk structured notes linked to the worst-performing of two equity indexes, featuring a 150% upside participation rate capped at a minimum 15.50% maximum return, a 10% downside buffer, and an initial estimated value of $915.00 to $965.00 per Security.