Published on 12/10/2020 in the Prospect News Structured Products Daily.
New Issue: BofA prices $2.5 million capped buffered enhanced return notes tied to basket
By Taylor Fox
New York, Dec. 10 – BofA Finance LLC priced $2.5 million of 0% capped buffered enhanced return notes due Jan. 7, 2022 linked an equally weighted basket comprised of the stocks of Bill.com Holdings, Inc., RingCentral, Inc., PagerDuty, Inc., Medallia, Inc., Upland Software, Inc., Datadog, Inc., DocuSign, Inc., Bandwidth Inc., Veeva Systems Inc. and Alteryx, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The payout at maturity will be par plus 1.5 times any gain in the basket, up to a to the maximum redemption amount of par plus 16%
Investors will receive par if the basket falls by up to 10% and will lose 1% for each 1% decline beyond 10%.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Capped buffered enhanced return notes
|
| Underlying basket: | Bill.com Holdings, Inc., RingCentral, Inc., PagerDuty, Inc., Medallia, Inc., Upland Software, Inc., Datadog, Inc., DocuSign, Inc., Bandwidth Inc., Veeva Systems Inc. and Alteryx, Inc., equally weighted
|
| Amount: | $2.5 million
|
| Maturity: | Jan. 7, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.5 times any basket gain, capped at par plus 16%; par if basket falls by 10% or less; 1% loss per 1% decline beyond 10%
|
| Initial levels: | $126.23 for Bill, $332.80 for RingCentral, $40.84 for PagerDuty, $30.48 for Medallia, $43.83 for Upland, $101.57 for Datadog, $243.22 for DocuSign, $158.11 for Bandwidth, $271.72 for Veeva and $118.24 for Alteryx
|
| Buffer level: | 90% of initial level
|
| Pricing date: | Dec. 4
|
| Settlement date: | Dec. 9
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 1.75%
|
| Cusip: | 09709T3M1
|
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