Published on 9/3/2020 in the Prospect News Structured Products Daily.
New Issue: BofA prices $14.38 million contingent income autocallable yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 3 – BofA Finance LLC priced $14.38 million of contingent income autocallable yield notes due Feb. 8, 2022 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 9.86% if each index closes at or above its 70% coupon barrier on the related determination date.
The notes will be automatically redeemed at par if each index closes at or above its initial value on any quarterly call observation dat.
The payout at maturity will be par if all three indexes close at or above their 70% trigger values.
Otherwise, investors will be fully exposed to any losses of the worst performing index.
The notes will be guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income autocallable yield notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $14,375,000
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| Maturity: | Feb. 8, 2022
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| Coupon: | 9.86% per year if each index closes at or above its coupon barrier on the related determination date; payable quarterly
|
| Price: | Par
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| Payout at maturity: | Par if all three indexes close at or above their trigger values; otherwise, investors will be fully exposed to any losses of the worst performing index
|
| Call: | Automatically redeemed at par if each index closes at or above initial value on any quarterly call observation date
|
| Initial levels: | 12,110.7 for Nasdaq, 1,561.867 for Russell, 28,430.05 for Dow
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| Coupon barriers: | 8,477.49 for Nasdaq, 1,093.313 for Russell, 19,901.04 for Dow; 70% of initial levels
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| Trigger values: | 8,477.49 for Nasdaq, 1,093.313 for Russell, 19,901.04 for Dow; 70% of initial levels
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 4
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| Selling Agent: | BofA Securities, Inc.
|
| Fees: | 1.75%
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| Cusip: | 09709TR78
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