Published on 12/14/2021 in the Prospect News Structured Products Daily.
New Issue: BofA sells $1.2 million autocallable notes on Russell, Nasdaq, Stoxx
By Kiku Steinfeld
Chicago, Dec. 14 – BofA Finance LLC priced $1.2 million of autocallable notes due Aug. 28, 2026 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the Nasdaq-100 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 12% per year if each index closes at or above its initial level on any semiannual call valuation date after one year.
The payout at maturity will be par plus 60% if each index finishes at or above its initial level.
If the least-performing index declines but finishes at or above its threshold level, 70% of its initial level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the least-performing index.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable notes
|
| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, Euro Stoxx 50 index
|
| Amount: | $1,198,000
|
| Maturity: | Aug. 28, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 60% if each index finishes at or above initial level; if least-performing index declines but finishes at or above threshold level, par; otherwise, full exposure to decline of least-performing index
|
| Call: | After one year, automatically at par plus 12% per year if each index closes at or above initial level on any semiannual call valuation date
|
| Initial levels: | 4,181.12 for Stoxx, 2,239.269 for Russell and 15,368.92 for Nasdaq
|
| Threshold levels: | 2,926.78 for Stoxx, 1,567.488 for Russell and 10,758.24 for Nasdaq for Russell; 70% of initial levels
|
| Pricing date: | Aug. 25
|
| Settlement date: | Aug. 30
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 0.75%
|
| Cusip: | 09709UPX0
|
|
|
© 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.
