The sales of US structured notes by Bank of America (BofA) increased by 39.9% in the US in 2023 despite smaller ticket sizes.

The US bank collected US$7.1 billion from 2,076 SEC-registered structured notes on the paper of BofA Finance, which was up 40% year-on-year (YoY), according to SRP data. That translates to US$3.4m per ticket on average, a significant decrease compared to US$6.0m seen in 2022.  The sales hike was reflected consistently throughout the four quarters with the figure fluctuating between US$1.68 billion and US$1.86 billion. BofA Securities acted as the lead underwriter while BofA, the parent c

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