Published on 12/8/2020 in the Prospect News Structured Products Daily.
New Issue: BofA sells $803,000 5% fixed income autocallable yield notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Dec. 8 – BofA Finance LLC priced $803,000 of 5% fixed income autocallable yield notes due March 1, 2022 linked to the worst performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par if each index closes above its initial level on any quarterly determination date after six months.
The payout at maturity will be par unless any index finishes below its 75% 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
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Guarantor: | Bank of America Corp.
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Issue: | Fixed income autocallable yield notes
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Underlying assets: | Russell 2000 index and S&P 500 index
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Amount: | $803,000
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Maturity: | March 1, 2022
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Coupon: | 5% annualized, payable quarterly
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Price: | Par
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Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline of worst performing index
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Call: | At par if each index closes above its initial level on any quarterly determination date after six months
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Initial levels: | 3,365.41 for S&P, 1,853.532 for Russell
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Downside thresholds: | 2,726.56 for S&P, 1,390.149 for Russell, 75% of initial levels
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Pricing date: | Nov. 24
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Settlement date: | Nov. 30
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Selling agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 09709T2B6
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