Published on 4/5/2021 in the Prospect News Structured Products Daily.
New Issue: BofA sells $2.42 million autocallable notes linked to three indexes
Chicago, April 5 – BofA Finance LLC priced $2.42 million of autocallable notes due March 20, 2026 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will be called at par plus 13% per year if each index closes at or above its initial level on any semiannual call valuation date beginning after one year.
The payout at maturity will be par plus 65% if each index finishes at or above its initial level.
If the least-performing index declines but finishes at or above its threshold level, 75% of its initial level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the least-performing index.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable notes
|
| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
|
| Amount: | $2,416,000
|
| Maturity: | March 20, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 65% if each index finishes at or above initial level; if least-performing index declines but finishes at or above threshold level, par; otherwise, full exposure to decline of least-performing index
|
| Call: | Beginning after one year, automatically at par plus 13% per year if each index closes at or above initial level on any semiannual call valuation date
|
| Initial levels: | 3,974.12 for S&P, 33,015.37 for Dow, 2,336.392 for Russell
|
| Threshold levels: | 2,980.59 for S&P, 24,761.53 for Dow, 1,752.294 for Russell; 75% of initial levels
|
| Pricing date: | March 17
|
| Settlement date: | March 22
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | None
|
| Cusip: | 09709UEF1
|
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