Published on 3/31/2021 in the Prospect News Structured Products Daily.
New Issue: BofA prices $2.34 million contingent income autocallable yield notes on three indexes
By Kiku Steinfeld
Chicago, March 31 – BofA Finance LLC priced $2.34 million of contingent income autocallable yield notes due March 13, 2024 linked to the least performing of the Nasdaq-100 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 8.25% if each index closes at or above its 70% coupon barrier on the related determination date. Payments will include previously unpaid coupons.
The notes will be automatically redeemed at par if each index closes at or above its initial value on any quarterly observation date after six months.
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, S&P 500 index and Dow Jones industrial average
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| Amount: | $2,340,000
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| Maturity: | March 13, 2024
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| Coupon: | 8.25% per year, payable monthly if each index closes at or above its coupon barrier on the related determination date; includes previously unpaid coupons
|
| Price: | Par
|
| 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 observation date after six months
|
| Initial levels: | 12,299.08 for Nasdaq, 3,821.35 for S&P, 31,802.44 for Dow
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| Coupon barriers: | 8,609.36 for Nasdaq, 2,674.95 for S&P, 22,261.71 for Dow; 70% of initial levels
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| Trigger values: | 8,609.36 for Nasdaq, 2,674.95 for S&P, 22,261.71 for Dow; 70% of initial levels
|
| Pricing date: | March 8
|
| Settlement date: | March 11
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| Selling Agent: | BofA Securities, Inc.
|
| Fees: | 0.25%
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| Cusip: | 09709UEG9
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