Published on 3/28/2022 in the Prospect News Structured Products Daily.
New Issue: BofA sells $3.56 million Capped Leveraged Index Return Notes on index basket
Chicago, March 28 – BofA Finance LLC priced $3.56 million of 0% Capped Leveraged Index Return Notes due April 26, 2024 linked to a basket of weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index, the MSCI Emerging Markets index, the Russell 2000 index and the Euro Stoxx 50 index. Each index has a 25% weight.
The payout at maturity will be par plus two times any basket gain, up to a maximum return of par plus 17.62%.
If the basket level falls by up to 10% of its initial level, the payout will be par. Investors will lose 1% for every 1% that the basket declines beyond 10%.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Capped Leveraged Index Return Notes
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Underlying indexes: | S&P 500 index, MSCI Emerging Markets index, Russell 2000 index and Euro Stoxx 50 index (25% weights, equally weighted)
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Amount: | $3,558,270
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Maturity: | April 26, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any basket gain, capped at 17.62%; par if basket falls by up to 10%; otherwise, lose 1% for every 1% of basket decline beyond 10%
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Initial index levels: | 4,211.47 for S&P, 1,364.54 for MSCI EM, 2,295.456 for Russell, 3,996.9 for Stoxx
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Buffer level: | 90% of initial basket level
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Pricing date: | April 29, 2021
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Settlement date: | May 6, 2021
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Agent: | BofA Securities, Inc.
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Fees: | 2.25%
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Cusip: | 09710D350
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