Published on 12/6/2021 in the Prospect News Structured Products Daily.
New Issue: BofA sells $500,000 contingent income autocallable yield notes on three indexes
Chicago, Dec. 6 – BofA Finance LLC priced $500,000 of contingent income autocallable yield notes due April 4, 2022 linked to the worst performing of the Russell 2000 index, the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9% if each underlying index closes at or above its 75% coupon barrier on the relevant observation date.
The notes will be called at par plus coupon if each index closes above its initial level on any quarterly determination date.
The payout at maturity will be par if the worst performer finishes above its 75% threshold level. Otherwise, investors will be fully exposed to any losses of the worst performing index.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
Issuer: | BofA Finance LLC
|
Guarantor: | Bank of America Corp.
|
Issue: | Contingent income autocallable yield notes
|
Underlying assets: | Russell 2000 index, Dow Jones industrial average, S&P 500
|
Amount: | $500,000
|
Maturity: | April 4, 2022
|
Coupon: | 9% annualized, payable monthly if each index closes at or above its coupon barrier on the corresponding observation date
|
Price: | Par
|
Payout at maturity: | If worst performer finishes above downside threshold level, par; otherwise, 1% loss for each 1% decline of worst performing index from its initial level
|
Call: | At par plus coupon if each index closes above its initial level on any quarterly determination date
|
Initial levels: | 32,619.48 for Dow, 2,183.121 for Russell, 3,909.52 for S&P
|
Coupon barriers: | 24,464.61 for Dow, 1,637.341 for Russell, 2,932.14 for S&P; 75% of initial levels
|
Downside thresholds: | 24,464.61 for Dow, 1,637.341 for Russell, 2,932.14 for S&P; 75% of initial levels
|
Pricing date: | March 29
|
Settlement date: | April 1
|
Selling agent: | BofA Securities, Inc.
|
Fees: | 0.25%
|
Cusip: | 09709UFH6
|
© 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.