Published on 3/8/2022 in the Prospect News Structured Products Daily.
New Issue: BofA sells $2.34 million contingent market-linked autocalls on three indexes
By Wendy Van Sickle
Columbus, Ohio, March 8 – BofA Finance LLC priced $2.34 million of 0% market-linked securities due March 3, 2025 – autocallable with contingent downside linked to the least performing of the Russell 2000 index, the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 12% annualized call premium if each index closes at or above its initial level on any annual call observation date.
The payout at maturity will be par unless any index finishes below its 75% downside threshold, in which case the payout will be par plus the return of the worst performing index with full exposure to any losses.
The notes are guaranteed by Bank of America Corp.
Wells Fargo Securities, LLC and BofA Securities, Inc. are the agents.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Market linked securities – autocallable with contingent downside
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average, S&P 500 index
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| Amount: | $2,337,000
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| Maturity: | March 3, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless any index falls by more than 25%, in which case 1% loss per 1% decline of the worst performing index from its initial level
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| Call: | At par plus 12% annualized call premium if each index closes at or above its initial level on any annual call observation date
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| Initial levels: | 2,048.089 for Russell, 33,892.6 for Dow, 4,373.94 for S&P
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| Downside threshold: | 1,536.06675 for Russell, 25,419.45 for Dow, 3,280.455 for S&P; 75% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 3
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| Agents: | Wells Fargo Securities, LLC and BofA Securities, Inc.
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| Fees: | 2.425%
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| Cusip: | 09709UZZ4
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