Published on 5/18/2022 in the Prospect News Structured Products Daily.
New Issue: BofA sells $1.27 million autocallable enhanced return notes on Russell, Nasdaq, Dow
By William Gullotti
Buffalo, N.Y., May 18 – BofA Finance LLC priced $1.27 million of autocallable enhanced return notes due Oct. 22, 2026 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 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 15% if each index closes at or above its initial level on Oct. 18, 2022.
The payout at maturity will be par plus 1.5 times any gain in the least performing index.
If any index finishes below its initial level but no lower than its threshold level, 75% of its initial level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the least performing index.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Autocallable enhanced return notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, Nasdaq-100 index
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| Amount: | $1,265,000
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| Maturity: | Oct. 22, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.5 times any gain in the least performing index; if the least performing index declines but finishes at or above the threshold level, par; otherwise, investors will be fully exposed to the decline of the least performing index
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| Call: | Automatically at par plus 15% if each index closes at or above its initial level on Oct. 18, 2022
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| Initial levels: | 15,300.89 for Nasdaq, 35,258.61 for Dow, 2,267.843 for Russell
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| Threshold levels: | 10,710.62 for Nasdaq, 24,681.03 for Dow, 1,587.49 for Russell; 70% of initial levels
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| Pricing date: | Oct. 18, 2021
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| Settlement date: | Oct. 21, 2021
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| Selling agent: | BofA Securities, Inc.
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| Fees: | 1%
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| Cusip: | 09709UTU2
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