Published on 2/5/2021 in the Prospect News Structured Products Daily.
New Issue: BofA prices $100,000 buffered autocallable notes tied to Nasdaq, Russell
By Kiku Steinfeld
Chicago, Feb. 5 – BofA Finance LLC priced $100,000 of 0% buffered autocallable notes due Jan. 31, 2024 linked to the least performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 5.75% annualized premium if each asset closes at or above its initial level on any semiannual call valuation date after one year.
The payout at maturity will be par plus 17.25 if each asset finishes above its initial level. If the laggard index falls by up to 15%, the payout will be par. Investors will lose 1% for each 1% decline of the worse performing asset beyond 15%.
The notes will be 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: | Buffered autocallable notes
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| Underliers: | Nasdaq-100 index and Russell 2000 index
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| Amount: | $100,000
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| Maturity: | Jan. 31, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 17.25 if each index finishes above initial level, par if laggard index falls by up to 15%, 1% loss for every 1% that lesser-performing underlier declines beyond 15%
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| Call: | After one year, automatically at par plus 5.75% annualized premium if each underlier closes at or above initial level on any semiannual call determination date
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| Initial levels: | 13,490.19 for Nasdaq, 2,149.856 for Russell
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| Threshold levels: | 11,466.66 for Nasdaq, 1,827.378 for Russell; 85% of initial levels
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 29
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| Selling agent: | BofA Securities, Inc.
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| Fees: | 3%
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| Cusip: | 09709T4H1
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