E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 5/18/2022 in the Prospect News Structured Products Daily.

New Issue: BofA prices $1.08 million buffered enhanced return notes linked to ARK, S&P

Chicago, May 18 – BofA Finance LLC priced $1.08 million of 0% buffered enhanced return notes due Oct. 31, 2024 linked to the least performing of the ARK Innovation ETF 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.

If each asset return is positive, the payout at maturity will be par plus 165% of the least performing asset return. Investors will receive par if the least performing asset declines by 15% or less and will lose 1% for every 1% that the worst performing asset declines beyond 15%.

BofA Securities, Inc. is the selling agent.

Issuer:BofA Finance LLC
Guarantor:Bank of America Corp.
Issue:Buffered enhanced return notes
Underlying assets:S&P 500 index, ARK Innovation ETF
Amount:$1,080,000
Maturity:Oct. 31, 2024
Coupon:0%
Price:Par
Payout at maturity:If each asset return is positive, par plus 165% of least performing asset return; par if least performing asset declines by 15% or less; 1% loss for every 1% that worst performing asset declines beyond 15%
Initial levels:4,574.79 for S&P, $121.20 for ARK
Buffer levels:3,888.57 for S&P, $103.02 for ARK; 85% of initial levels
Pricing date:Oct. 26, 2021
Settlement date:Oct. 29, 2021
Selling agent:BofA Securities, Inc.
Fees:0.5%
Cusip:09709UTY4

© 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.