Published on 9/8/2022 in the Prospect News Structured Products Daily.
New Issue: BofA Finance prices $8.55 million step-down trigger autocallables on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Sept. 8 – BofA Finance LLC priced $8.55 million of 0% step down trigger autocallable notes due Sept. 8, 2027 linked to the lesser 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 will be automatically called at par of $10 plus 11.96% per year if each index closes at or above its call threshold level on any quarterly observation date after one year. For each index, the call threshold level will be equal to the initial index level for all observation dates except the final observation date when it will be 75% of the initial level.
If the notes are not called, then the final level of at least one index will be less than its 75% downside threshold level, and investors will be exposed to the decline of the lesser-performing index from its initial level.
UBS Financial Services Inc. and BofA Finance LLC are the agents.
| Issuer: | BofA Finance LLC
|
| Issue: | Step-down trigger autocallable notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $8.55 million
|
| Maturity: | Sept. 8, 2027
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If not called, meaning lowest performer has finished below 75% of initial level, full exposure to decline of lesser-performing index from initial level
|
| Call: | Automatically at par plus 11.96% per year if each index closes at or above call threshold level on any any quarterly observation date after one year; call threshold equals initial index level for all observation dates except final date, Sept. 2, 2027, when it equals 75% downside threshold
|
| Initial levels: | 1,809.748 for Russell, 3,924.26 for S&P
|
| Downside thresholds: | 1,357.311 for Russell, 2,943.2 for S&P; 75% of initial levels
|
| Pricing date: | Sept. 2
|
| Settlement date: | Sept. 8
|
| Agents: | UBS Financial Services Inc. and BofA Finance LLC
|
| Fees: | 1%
|
| Cusip: | 09710G122
|
|
|
© 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.
