Published on 12/14/2021 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.68 million buffered autocallable notes on Stoxx, Russell
By Kiku Steinfeld
Chicago, Dec. 14 – BofA Finance LLC priced $1.68 million of 0% buffered autocallable notes due Aug. 28, 2026 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 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 6% if each index closes at or above its initial level on any annual call date.
If the notes are not called, the payout at maturity will be par plus 30% if each index finishes at or above its initial level. If the least-performing index declines but finishes at or above its buffer level, 85% of its initial level, investors will lose 1% for each 1% decline of the worst performer beyond 15%.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Buffered autocallable notes
|
| Underliers: | Euro Stoxx 50 index and Russell 2000 index
|
| Amount: | $1,675,000
|
| Maturity: | Aug. 28, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 30% if each index finishes at or above initial level; if least-performing index declines but finishes at or above buffer level, par; otherwise, 1% loss for each 1% decline of worst performer beyond 15%
|
| Call: | At par plus 6% if each index closes at or above its initial level on any annual call date
|
| Initial levels: | 4,181.12 for Stoxx, 2,239.269 for Russell
|
| Coupon barriers: | 3,553.95 for Stoxx, 1,903.379 for Russell; 85% of initial levels
|
| Buffer levels: | 3,553.95 for Stoxx, 1,903.379 for Russell; 85% of initial levels
|
| Pricing date: | Aug. 25
|
| Settlement date: | Aug. 30
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 3.65%
|
| Cusip: | 09709UPU6
|
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