E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 2/16/2021 in the Prospect News Structured Products Daily.

New Issue: BofA prices $1 million contingent income callable yield notes on indexes

By Wendy Van Sickle

Columbus, Ohio, Feb. 16 – BofA Finance LLC priced $1 million of contingent income issuer callable yield notes due Feb. 4, 2026 linked to the least performing of the Nasdaq-100 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8.1% if each index closes at or above its coupon barrier, 65% of its initial level, on the observation date for that quarter.

The notes are callable at par plus any contingent coupon on any observation date after six months other than the final one.

The payout at maturity will be par the final coupon due unless any index finishes below its 65% threshold level, in which case investors will be fully exposed to the losses of the worst performing index.

The notes are guaranteed by Bank of America Corp.

BofA Securities, Inc. is the selling agent.

Issuer:BofA Finance LLC
Guarantor:Bank of America Corp.
Issue:Contingent income issuer callable yield notes
Underlying indexes:Nasdaq-100 index, S&P 500 index and Dow Jones industrial average
Amount:$1 million
Maturity:Feb. 4, 2026
Coupon:8.1% annual rate, payable quarterly if each index closes at or above coupon barrier on observation date for that quarter
Price:Par
Payout at maturity:If each index finishes at or above downside threshold, par plus final coupon; otherwise 1% loss for each 1% decline of worst performing index
Call option:At par plus any coupon on any observation date after six months other than final one
Initial levels:3,773.86 for S&P, 13,248.9 for Nasdaq, 30,211.91 for Dow
Coupon barriers:2,453.01 for S&P, 8,611.79 for Nasdaq, 19,637.74 for Dow, 65% of initial levels
Downside thresholds:2,453.01 for S&P, 8,611.79 for Nasdaq, 19,637.74 for Dow, 65% of initial levels
Pricing date:Feb.1
Settlement date:Feb. 4
Selling agent:BofA Securities, Inc.
Fees:1%
Cusip:09709UAS7

© 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.