Published on 5/25/2022 in the Prospect News Structured Products Daily.
New Issue: BofA sells $776,000 contingent income autocallable yield notes on Russell, Nasdaq
By Kiku Steinfeld
Chicago, May 25 – BofA Finance LLC priced $776,000 of contingent income autocallable yield notes due Aug. 3, 2022 linked to the worst performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 6.75% if each index closes at or above its 75% coupon barrier on the observation date for that period.
The notes will be called at par plus the coupon on if each index closes above its initial level on any monthly determination date after six months.
The payout at maturity will be par unless any index finishes below its 75% downside threshold level, in which case investors will be fully exposed to any 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 autocallable yield notes
|
| Underlying indexes: | Russell 2000 index and Nasdaq-100 index
|
| Amount: | $776,000
|
| Maturity: | Aug. 3, 2022
|
| Coupon: | 6.75% annualized, payable monthly if each index closes at or above its coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above downside threshold level, par; otherwise, 1% loss for each 1% decline of worst performing index
|
| Call: | At par plus coupon if each index closes above its initial level on any monthly determination date after six months
|
| Initial levels: | 15,850.47 for Nasdaq, 2,297.191 for Russell
|
| Coupon barrier levels: | 11,887.85 for Nasdaq, 1,722.893 for Russell; 75% of initial levels
|
| Downside threshold levels: | 11,887.85 for Nasdaq, 1,722.893 for Russell; 75% of initial levels
|
| Pricing date: | Oct. 29, 2021
|
| Settlement date: | Nov. 3, 2021
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 0.5%
|
| Cusip: | 09709UTC2
|
|
|
© 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.
