Published on 9/9/2020 in the Prospect News Structured Products Daily.
New Issue: BofA Finance sells $866,000 capped buffered notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Sept. 9 – BofA Finance, LLC priced $866,000 of 0% capped buffered return notes due Sept. 2, 2022 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
If the final level of the least-performing index is greater than the initial level, the payout at maturity will be par plus the least-performing index return, up to the maximum payout of $1,175 per note per $1,000 face amount of notes. If the least-performing index declines by 20% or less, the payout will be par. If the least-performing index declines by more than 20%, investors will lose 1% for every 1% that the least-performing index declines beyond 20%.
BofA Securities, Inc. is the underwriter.
| Issuer: | BofA Finance, LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Capped buffered return notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $866,000
|
| Maturity: | Sept. 2, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the final level of the least-performing index is greater than initial level, par plus the index return, up to maximum payout of $1,175 per $1,000 face amount of note; if least-performing index declines by 20% or less, par; if least-performing index declines by more than 20%, 1% loss for every 1% that least-performing index declines beyond 20%
|
| Initial index level: | 3,500.31 for S&P, 1,561.876 for Russell
|
| Threshold values: | 2,800.25 for S&P, 1,249.501 for Russell
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 3
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 0%
|
| Cusip: | 09709TN23
|
|
|
© 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.
