Published on 6/23/2021 in the Prospect News Structured Products Daily.
New Issue: BofA sells $500,000 autocallable notes linked to Russell, S&P, Dow
By William Gullotti
Buffalo, N.Y., June 23 – BofA Finance LLC priced $500,000 of autocallable notes due May 21, 2026 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will be called at par plus 10.75% per year if each index closes at or above its initial level on any quarterly call valuation date after one year.
The payout at maturity will be par plus 53.75% if each index finishes at or above its initial level. If any index finishes below its initial level but each index finishes at or above its threshold level, 70% of its initial level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the least performing index.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable notes
|
| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
|
| Amount: | $500,000
|
| Maturity: | May 21, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above its initial level, par plus 53.75%; if any index finishes below its initial level but each index finishes at or above its threshold level, par; otherwise, investors will be fully exposed to the decline of the least performing index
|
| Call: | Automatically at par plus 10.75% per year if each index closes at or above its initial level on any quarterly call valuation date after one year
|
| Initial levels: | 4,127.83 for S&P, 34,060.66 for Dow, 2,210.877 for Russell
|
| Threshold levels: | 2,889.48 for S&P, 23,842.46 for Dow, 1,547.614 for Russell; 70% of initial levels
|
| Pricing date: | May 18
|
| Settlement date: | May 21
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 0.75%
|
| Cusip: | 09709ULE6
|
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