Published on 3/28/2021 in the Prospect News Structured Products Daily.
New Issue: BofA Finance sells $426,000 digital return plus notes on S&P, Dow, Russell
Chicago, March 29 – BofA Finance LLC priced $426,000 of 0% digital return plus notes due Feb. 29, 2024 linked to the worst performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, 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 the greater of 25% or the return of the worst performer if all indexes finish at or above their initial levels.
If the least-performing index declines by up to 30%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the least-performing index from its initial level.
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: | Digital return plus notes
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Underlying indexes: | S&P 500, Russell 2000 and Dow Jones industrial average
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Amount: | $426,000
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Maturity: | Feb. 29, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus greater of 25% or return of worst performer if least-performing index finishes at or above initial level; par if least-performing index declines by up to 30%; otherwise, loss of 1% for every 1% decline of least-performing index from initial level
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Initial levels: | 3,811.15 for S&P, 30,932.37 for Dow, 2,201.051 for Russell
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Threshold level: | 2,667.81 for S&P, 21,652.66 for Dow, 1,540.736 for Russell, 70% of initial levels
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Pricing date: | Feb. 26
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Settlement date: | March 3
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Selling agent: | BofA Securities, Inc.
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Fees: | 0.85%
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Cusip: | 09709UBH0
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