Published on 11/2/2021 in the Prospect News Structured Products Daily.
New Issue: BofA sells $7.5 million Capped Leveraged Index Return Notes on index basket
By Wendy Van Sickle
Columbus, Ohio, Nov. 2 – BofA Finance LLC priced $7.5 million of 0% Capped Leveraged Index Return Notes due Oct. 27, 2023 linked to a basket of weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the FTSE China 50 index with a 5% weight.
The payout at maturity will be par plus 2 times any basket gain, up to a maximum return of par plus 12.8%.
If the basket level falls by up to 10% of its initial level, the payout will be par. Investors will lose 1% for every 1% that the basket declines beyond 10%.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Capped Leveraged Index Return Notes
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| Underlying indexes: | Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei Stock Average index (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight), FTSE China 50 index (5% weight)
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| Amount: | $7,498,030
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| Maturity: | Oct. 27, 2023
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 200% of any basket gain, capped at 12.8%; par if basket falls by up to 10%; otherwise, lose 1% for every 1% of basket decline beyond 10%
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| Initial index levels: | 4,233.87 for Stoxx, 7,249.47 for FTSE 100, 28,820.09 for Nikkei,12,153.1 for Swiss Market, 7,430.377 for S&P/ASX, 18,190.66 for FTSE China
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| Buffer level: | 90% of initial basket level
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| Pricing date: | Oct. 28
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| Settlement date: | Nov. 4
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| Agent: | BofA Securities, Inc.
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| Fees: | 2%
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| Cusip: | 09710D756
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