Published on 10/21/2021 in the Prospect News Structured Products Daily.
New Issue: BofA sells $18.49 million contingent income callable yield notes on Dow, S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Oct. 21 – BofA Finance LLC priced $18.49 million of contingent income issuer callable yield notes due Oct. 20, 2026 linked to the worst 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 will pay a contingent monthly coupon at an annual rate of 7.25% if each underlying index closes at or above its 60% coupon barrier on the relevant observation date.
The notes may called at par plus any coupon due on any monthly determination date starting after three months.
The payout at maturity will be par unless any index finishes below its 60% threshold level, in which case investors will be fully exposed to any losses of the worst performing index.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income issuer callable yield notes
|
| Underlying assets: | Russell 2000 index, S&P 500 index, Dow Jones industrial average
|
| Amount: | $18,489,000
|
| Maturity: | Oct. 20, 2026
|
| Coupon: | 7.25% annualized, payable monthly if each index closes at or above its coupon barrier on the corresponding observation date
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline of worst performing index from its initial level
|
| Call: | At par plus any coupon due on any monthly determination date starting after three months
|
| Initial levels: | 35,294.76 for Dow, 4,471.37 for S&P, 2,265.654 for Russell
|
| Coupon barriers: | 21,176.86 for Dow, 2,682.82 for S&P, 1,359.392 for Russell; 60% of initial levels
|
| Downside thresholds: | 21,176.86 for Dow, 2,682.82 for S&P, 1,359.392 for Russell; 60% of initial levels
|
| Pricing date: | Oct. 15
|
| Settlement date: | Oct. 20
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 1%
|
| Cusip: | 09709UTG3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
