Published on 4/4/2022 in the Prospect News Structured Products Daily.
New Issue: BofA sells $1.67 million dual directional notes on S&P, Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., April 4 – BofA Finance LLC priced $1.67 million of 0% dual directional notes due May 5, 2026 linked to the least performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.3 times any gain in the least-performing index.
If the least-performing index falls by up to 30%, the payout will be par plus the absolute value of the return of that index.
Otherwise, investors will lose 1% for every 1% decline of the least-performing index.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Dual directional notes
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Underlying indexes: | Nasdaq-100 index, S&P 500 index, Russell 2000 index
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Amount: | $1,665,000
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Maturity: | May 5, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.3 times any gain in least-performing index; if least-performing index falls by up to 30%, par plus absolute value of return of that index; otherwise, exposure to losses of least-performing index
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Initial levels: | 4,181.17 for S&P, 13,860.76 for Nasdaq, 2,266.449 for Russell
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Threshold levels: | 2,926.82 for S&P, 9,702.53 for Nasdaq, 1,586.514 for Russell; 70% of initial levels
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Pricing date: | April 30, 2021
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Settlement date: | May 5, 2021
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Selling agent: | BofA Securities, Inc.
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Fees: | 0.925%
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Cusip: | 09709UFF0
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