Published on 9/28/2021 in the Prospect News Structured Products Daily.
New Issue: BofA prices $48.76 million Capped Leveraged Index Return Notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, Sept. 28 – BofA Finance LLC priced $48.76 million of 0% Capped Leveraged Index Return Notes due Nov. 25, 2022 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will be guaranteed by Bank of America Corp.
The payout at maturity will be par of $10 plus 2 times any index gain, subject to a maximum return of 8.61%.
If the index declines by up to 5%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline beyond 5%.
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 index: | S&P 500
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Amount: | $48,760,330
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Maturity: | Nov. 25, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 2 times any index gain, subject to a maximum return of 8.61%; if the index declines by up to 5%, par; otherwise, investors will lose 1% for every 1% decline beyond 5%
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Initial index level: | 4,448.98
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Threshold level: | 4,226.53, 95% of initial level
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Pricing date: | Sept. 23
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Settlement date: | Sept. 30
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 09710D590
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