Published on 10/27/2021 in the Prospect News Structured Products Daily.
New Issue: BofA sells $2.24 million autocallable enhanced return notes on Russell, S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, Oct. 27 – BofA Finance LLC priced $2.24 million of autocallable enhanced return notes due Oct. 27, 2026 linked to the least performing of the Dow Jones industrial average, 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.
The notes will be called at par plus 1.5 times the return of the lest performing index if each index closes at or above 110% of its initial level on April 22, 2024.
The payout at maturity will be par plus 26% if each index finishes at or above its initial level. If any index finishes below its initial level but each finishes at or above its threshold level, 75% of its initial level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the least performing index from its initial level.
BofA Securities, Inc. is the selling agent.
Issuer: | BofA Finance LLC
|
Guarantor: | Bank of America Corp.
|
Issue: | Autocallable enhanced return notes
|
Underlying indexes: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
|
Amount: | $2,235,000
|
Maturity: | Oct. 27, 2026
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If each index finishes at above 100% of its initial level, par plus 1.5 times the return of the least performing index; if the least performing index finishes below 100% of initial level but at or above threshold level, par; otherwise, investors will be fully exposed to the decline of the least performing index from its initial level
|
Call: | Automatically at par plus 26% if each index closes at or above 110% of its initial level on April 22, 2024
|
Initial levels: | 4,544.9 for S&P, 35,677.02 for Dow, 2,291.266 for Russell
|
Threshold levels: | 3,181.43 for S&P, 24,973.91 for Dow, 1,603.886 for Russell; 70% of initial levels
|
Pricing date: | Oct. 22
|
Settlement date: | Oct. 27
|
Selling agent: | BofA Securities, Inc.
|
Fees: | 4.125%
|
Cusip: | 09709UTX6
|
|
|
|
© 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.