Published on 11/1/2021 in the Prospect News Structured Products Daily.
New Issue: BofA Finance prices $32.61 million Accelerated Return Notes on Russell 2000
By Wendy Van Sickle
Columbus, Ohio, Nov. 1 – BofA Finance LLC priced $32.61 million of 0% Accelerated Return Notes due Dec. 23, 2022 linked to the Russell 2000 index, 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 of $10 plus triple any index gain, capped at par plus 15.75%.
Investors will be exposed to any index decline.
BofA Securities, Inc. is the underwriter.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Accelerated Return Notes
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Underlying index: | Russell 2000 index
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Amount: | $32,610,300
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Face amount: | $10
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Maturity: | Dec. 23, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 300% of any index gain, capped at par plus 15.75%, full exposure to any index decline
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Initial value: | 2,297.979
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Final level: | Average of index’s closing levels on five trading days ending Decc. 20, 2022
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Pricing date: | Oct. 28
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Settlement date: | Nov. 4
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Agent: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 09710D673
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