Published on 3/11/2021 in the Prospect News Structured Products Daily.
New Issue: BofA sells $864,000 capped dual directional notes on index, ETF basket
By Wendy Van Sickle
Columbus, Ohio, March 11 – BofA Finance LLC priced $864,000 of 0% capped dual directional notes due Feb. 23, 2026 linked to a basket of the S&P 500 index (40% weight), the Russell 2000 index (30% weight), the Euro Stoxx 50 index (20% weight) and the iShares MSCI Emerging Markets ETF (10% weight), according to a 424B2 filing with the Securities and Exchange Commission.
If the final basket level is greater than or equal to the initial basket level, the payout at maturity will be par plus 25%.
If the final level of the basket is less than its initial level by up to 30%, the payout will be par plus the absolute value of the basket’s return.
If the final level of the basket is less than its initial level by more than 30%, investors will lose 1% for every 1% that the basket declines.
The notes will be guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Capped dual directional notes
|
| Underlying basket: | S&P 500 index (40% weight), Russell 2000 index (30% weight), Euro Stoxx 50 index (20% weight) and iShares MSCI Emerging Markets ETF (10% weight)
|
| Amount: | $864,000
|
| Maturity: | Feb. 23, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final basket level is greater than or equal to initial basket level, par plus 25%; if basket declines by not more than 30%, par plus absolute value of basket’s return; otherwise, 1% loss for every 1% that basket declines
|
| Initial levels: | $57.16 for ETF, 3,681.04 for Stoxx, 2,218.385 for Russell 2000 and 3,913.97 for S&P 500
|
| Threshold level: | 70% of initial level
|
| Pricing date: | Feb. 18
|
| Settlement date: | Feb. 23
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 1%
|
| Cusip: | 09709UCR7
|
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