Published on 8/19/2021 in the Prospect News Structured Products Daily.
New Issue: BofA sells $1.27 million autocallable notes tied to three indexes
By William Gullotti
Buffalo, N.Y., Aug. 19 – BofA Finance LLC priced $1.27 million of autocallable notes due May 16, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 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 9.5608% per year if each index closes at or above its initial level on any quarterly call valuation date after one year.
The payout at maturity will be $1,286.824 per note if each index finishes at or above its initial level. If any index finishes below its initial level but at or above its threshold level, 70% 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
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| Guarantor: | Bank of America Corp.
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| Issue: | Autocallable notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $1,274,000
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| Maturity: | May 16, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, $1,286.824 per note; if any 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 9.5608% per year if each index closes at or above its initial level on any quarterly call valuation date after one year
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| Initial levels: | 4,152.1 for S&P, 13,351.27 for Nasdaq, 2,206.987 for Russell
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| Threshold levels: | 2,906.47 for S&P, 9,345.89 for Nasdaq, 1,544.891 for Russell; 70% of initial levels
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| Pricing date: | May 11
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| Settlement date: | May 14
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| Selling agent: | BofA Securities, Inc.
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| Fees: | 2.875%
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| Cusip: | 09709UKQ0
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