Published on 8/31/2020 in the Prospect News Structured Products Daily.
New Issue: BofA prices $102,000 return notes linked to Russell, S&P
By Sarah Lizee
Olympia, Wash., Aug. 31 – BofA Finance LLC priced $102,000 of 0% return notes due Nov. 26, 2021 linked to S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout will be par plus the return of the lesser performing index.
If any index falls by up to 20%, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the lesser performing index.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Return notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $102,000
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Maturity: | Nov. 26, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes above its initial level, par plus the return of the lesser performing index; if any index falls by up to 20%, par; otherwise, investors will be fully exposed to the decline of the lesser performing index
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Initial index levels: | 3,478.73 for S&P, 1,560.193 for Russell
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Threshold values: | 2,782.98 or S&P, 1,248.154 for Russell; 80% of initial levels
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Pricing date: | Aug. 26
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Settlement date: | Aug. 31
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Selling agent: | BofA Securities, Inc.
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Fees: | 1.5%
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Cusip: | 09709TP21
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