Published on 2/24/2022 in the Prospect News Structured Products Daily.
New Issue: BofA sells $1.12 million autocallable notes tied to index, ETF
By William Gullotti
Buffalo, N.Y., Feb. 24 – BofA Finance LLC priced $1.12 million of autocallable notes due April 24, 2026 linked to the least performing of the Euro Stoxx 50 index and the iShares MSCI Emerging Markets ETF, 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 8% per year if each underlying closes at or above its initial level on any quarterly call valuation date after one year.
The payout at maturity will be par plus 40% if each underlying finishes at or above its initial level. If each underlying 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 worst performer.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable notes
|
| Underlying assets: | Euro Stoxx 50 index, iShares MSCI Emerging Markets ETF
|
| Amount: | $1,118,000
|
| Maturity: | April 24, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each underlying finishes at above its initial level, par plus 40%; if each underlying finishes below initial level but at or above threshold level, par; otherwise, investors will be fully exposed to the decline of the worst performer
|
| Call: | Automatically at par plus 8% per year if each underlying closes at or above its initial level on any quarterly call valuation date after one year
|
| Initial levels: | 4,013.34 for Stoxx, $54.63 for iShares
|
| Threshold levels: | 2,809.34 for Stoxx, $38.24 for iShares; 70% of initial levels
|
| Pricing date: | April 23, 2021
|
| Settlement date: | April 27, 2021
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 3.35%
|
| Cusip: | 09709UHS0
|
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