Published on 3/8/2022 in the Prospect News Structured Products Daily.
New Issue: BofA prices $4.35 million contingent income buffered notes on fund, indexes
By Wendy Van Sickle
Columbus, Ohio, March 8 – BofA Finance LLC priced $4.35 million of contingent income buffered issuer callable yield notes due March 6, 2025 linked to the least performing of the Euro Stoxx 50 index, the iShares MSCI Emerging Markets ETF and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
Each month, the notes will pay a contingent coupon at the rate of 12% per year if each underlier closes at or above its coupon barrier level, 75% of its initial level, on the determination date for that month.
The notes will be callable at par on any monthly call determination date after three months.
The payout at maturity will be par unless any underlier finishes below its threshold level, 70% of its initial level, in which case investors will lose 1.42857% for every 1% that the least-performing underlier declines beyond 30%.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income buffered issuer callable yield notes
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| Underlying assets: | iShares MSCI Emerging Markets ETF, Euro Stoxx 50 index and Russell 2000 index
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| Amount: | $4.35 million
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| Maturity: | March 6, 2025
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| Coupon: | 12% per year, payable monthly if each underlier closes at or above coupon barrier level on related determination date
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| Price: | Par
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| Payout at maturity: | Par unless any underlier finishes below threshold level, in which case 1.42857% loss for every 1% that least-performing underlier declines beyond 30%
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| Call: | At par on any monthly call determination date after three months
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| Initial levels: | 3,741.78 for Stoxx, $45.54 for iShares MSCI Emerging Markets and 2,032.41 for Russell
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| Coupon barrier levels: | 2,806.34 for Stoxx, $34.16 for iShares MSCI Emerging Markets and 1,524.308 for Russell; 75% of initial levels
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| Threshold levels: | 2,619.25 for Stoxx, $31.88 for iShares MSCI Emerging Markets and 1,422.687 for Russell; 70% of initial levels
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| Pricing date: | March 3
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| Settlement date: | March 8
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.25%
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| Cusip: | 09709UG28
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