Published on 5/4/2021 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.81 million contingent income autocallable yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, May 4 – BofA Finance LLC priced $1.81 million of contingent income autocallable yield notes due Oct. 20, 2022 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 6.25% if each index closes at or above its 70% coupon barrier on the related determination date, plus any previously unpaid coupon.
The notes will be automatically redeemed at par if each index closes at or above its initial value on any quarterly observation date.
The payout at maturity will be par if all three indexes close at or above their 70% threshold values.
Otherwise, investors will be fully exposed to any losses of the worst performing index.
The notes will be guaranteed by Bank of America Corp.
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: | Contingent income autocallable yield notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $1,806,000
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Maturity: | Oct. 20, 2022
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Coupon: | 6.25% per year, payable quarterly if each index closes at or above its coupon barrier on the related determination date, plus any previously unpaid coupon
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Price: | Par
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Payout at maturity: | Par if all three indexes close at or above their threshold values; otherwise, investors will be fully exposed to any losses of the worst performing index
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Call: | Automatically redeemed at par if each index closes at or above initial value on any quarterly observation date
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Initial levels: | 14,041.91 for Nasdaq, 2,262.67 for Russell, 4,185.47 for S&P
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Coupon barriers: | 9,829.34 for Nasdaq, 1,583.869 for Russell, 2,929.83 for S&P; 70% of initial levels
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Threshold values: | 9,829.34 for Nasdaq, 1,583.869 for Russell, 2,929.83 for S&P; 70% of initial levels
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Pricing date: | April 16
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Settlement date: | April 21
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Selling Agent: | BofA Securities, Inc.
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Fees: | 2.175%
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Cusip: | 09709UFC7
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