Published on 5/21/2021 in the Prospect News Structured Products Daily.
New Issue: BofA sells $11 million autocallable notes tied to Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, May 21 – BofA Finance LLC priced $11 million of autocallable notes due May 21, 2026 linked to the least performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will be called at par plus 10% per year if each index closes at or above its initial level on any quarterly call valuation date.
The payout at maturity will be par plus 50% if each index finishes at or above its initial level. If each index finishes below its initial level but at or above its threshold level, 75% of its initial level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the least performing index.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable notes
|
| Underlying indexes: | Russell 2000 index and Euro Stoxx 50 index
|
| Amount: | $11 million
|
| Maturity: | May 21, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at above its initial level, par plus 50%; if each index finishes below initial level but at or above threshold level, par; otherwise, investors will be fully exposed to the decline of the least performing index
|
| Call: | Automatically at par plus 10% per year if each index closes at or above its initial level on any quarterly call valuation date
|
| Initial levels: | 4,005.34 for Euro Stoxx, 2,210.877 for Russell
|
| Threshold levels: | 3,004.01 for Euro Stoxx, 1,658.158 for Russell, 75% of initial levels
|
| Pricing date: | May 18
|
| Settlement date: | May 21
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 2.85%
|
| Cusip: | 09709ULC0
|
|
|
© 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.
