Published on 5/31/2022 in the Prospect News Structured Products Daily.
New Issue: BofA sells $1.09 million autocallable notes on Russell, S&P
Chicago, May 31 – BofA Finance LLC priced $1.09 million of autocallable notes due Nov. 17, 2025 linked to the least performing of the Russell 2000 index 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.
The notes will be called at par plus 8% per year if each index closes at or above its initial level on any annual call valuation date.
The payout at maturity will be par plus 32% if each index finishes at or above its call level. If any index finishes below its call level but each 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 from its initial level.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable notes
|
| Underlying indexes: | Russell 2000 index, S&P 500 index
|
| Amount: | $1,087,000
|
| Maturity: | Nov. 17, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at above its call level, par plus 32%; if the least performing index finishes below call level but at or above threshold level, par; otherwise, investors will be fully exposed to the decline of the least performing index from its initial level
|
| Call: | Automatically at par plus 8% per year if each index closes at or above its initial level on any annual call valuation date
|
| Initial levels: | 4,682.85 for S&P, 2,411.776 for Russell
|
| Threshold levels: | 3,278 for S&P, 1,688.243 for Russell; 70% of initial levels
|
| Pricing date: | Nov. 12, 2021
|
| Settlement date: | Nov. 17, 2021
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 09709UVH8
|
|
|
© 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.
