Published on 5/15/2021 in the Prospect News Structured Products Daily.
New Issue: BofA sells $500,000 dual directional notes on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, May 17 – BofA Finance LLC priced $500,000 of 0% dual directional notes due April 30, 2026 linked to the least performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.08 times any gain in the least-performing index.
If the least-performing index falls by up to 30%, the payout will be par plus the absolute value of the return of that index.
Otherwise, investors will lose 1% for every 1% decline of the least-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: | Dual directional notes
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Underlying indexes: | Nasdaq-100 index, S&P 500 index and Russell 2000 index
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Amount: | $500,000
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Maturity: | April 30, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.08 times any gain in least-performing index; if least-performing index falls by up to 30%, par plus absolute value of return of that index; otherwise, exposure to losses of least-performing index
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Initial levels: | 4,186.72 for S&P, 13,960.28 for Nasdaq, 2,301.267 for Russell
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Threshold levels: | 2,930.70 for S&P, 9,772.20 for Nasdaq, 1,610.887 for Russell, 70% of initial levels
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Pricing date: | April 27
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Settlement date: | April 30
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Selling agent: | BofA Securities, Inc.
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Fees: | 4.025%
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Cusip: | 09709UFE3
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