Published on 10/21/2020 in the Prospect News Structured Products Daily.
New Issue: BofA Finance prices $97,000 digital return notes linked to S&P, Russell
By Kiku Steinfeld
Chicago, Oct. 21 – BofA Finance LLC priced $97,000 of 0% digital return notes due April 4, 2022 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its threshold value, 70% of its initial level, the payout at maturity will be par plus 10%. If either index finishes below its threshold value, investors will be fully exposed to the decline of the lesser-performing index.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Digital return notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $97,000
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Maturity: | April 4, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final level of each index is greater than or equal to threshold value, par plus 10%; if either index finishes below threshold value, full exposure to decline of lesser-performing index
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Initial index levels: | 3,363.00 for S&P, 1,507.692 for Russell
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Threshold values: | 2,354.10 for S&P, 1,055.384 for Russell; 70% of initial levels
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Pricing date: | Sept. 30
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Settlement date: | Oct. 5
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Selling agent: | BofA Securities, Inc.
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Fees: | 0.5%
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Cusip: | 09709TU25
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