Published on 5/15/2021 in the Prospect News Structured Products Daily.
New Issue: BofA prices $500,000 capped buffered enhanced return notes tied to S&P
By Kiku Steinfeld
Chicago, May 17 – BofA Finance LLC priced $ $500,000 of 0% capped buffered enhanced return notes due May 2, 2023 linked to 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 payout at maturity will be par plus 2 times any gain in the index, up to a to the maximum redemption amount of 10.4%.
Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% decline beyond 10%.
BofA Securities, Inc. is the selling agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Capped buffered enhanced return notes
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Underlying index: | S&P 500
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Amount: | $500,000
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Maturity: | May 2, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2 times any index gain, capped at 10.4% of par; par if index falls by 10% or less; 1% loss per 1% decline beyond 10%
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Initial level: | 4,186.72
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Buffer level: | 3,768.05, 90% of initial level
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Pricing date: | April 27
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Settlement date: | April 30
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Selling agent: | BofA Securities, Inc.
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Fees: | 2.35%
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Cusip: | 09709UGS1
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