Published on 8/30/2022 in the Prospect News Structured Products Daily.
New Issue: BofA prices $12.44 million capped Leveraged Index Return Notes on index basket
Chicago, Aug. 30 – BofA Finance LLC priced $12.44 million of 0% capped Leveraged Index Return Notes due Aug. 30, 2024 linked to an international equity index basket, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
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 of $10 plus 200% of any basket gain, subject to a maximum payout of par plus 27.75%.
If the basket falls by up to 10%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline beyond 10%.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Capped Leveraged Index Return Notes
|
| 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)
|
| Amount: | $12,437,420
|
| Maturity: | Aug. 30, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 200% of any basket gain capped at 27.75%; if basket falls by up to 10%, par; otherwise, 1% loss for every 1% basket decline beyond 10%
|
| Initial levels: | 3,674.54 for Stoxx, 7,479.74 for FTSE 100, 28,479.01 for Nikkei, 11,063.88 for Swiss Market, 7,048.126 for S&P/ASX, 13,587.38 for FTSE China
|
| Threshold level: | 90% of initial level
|
| Pricing date: | Aug. 25
|
| Settlement date: | Sept. 1
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 09710F751
|
|
|
© 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.
