Published on 7/16/2021 in the Prospect News Structured Products Daily.
New Issue: BofA Finance sells $262,000 buffered digital return notes on S&P, Russell
By William Gullotti
Buffalo, N.Y., July 16 – BofA Finance LLC priced $262,000 of 0% buffered digital return notes due Dec. 1, 2022 linked to the S&P 500 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The payout at maturity will be par plus 15% if the worst performer finishes at or above its initial level.
If the lesser-performing index declines by up to 25%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the lesser-performing index from its initial level.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Buffered digital return notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index
|
| Amount: | $262,000
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| Maturity: | Dec. 1, 2022
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus 15% if lesser-performing index finishes at or above initial level; par if lesser-performing index declines by up to 25%; otherwise, loss of 1% for every 1% decline of lesser-performing index from its initial level
|
| Initial levels: | 4,200.88 for S&P, 2,273.073 for Russell
|
| Threshold level: | 3,150.66 for S&P, 1,704.805 for Russell, 75% of initial levels
|
| Pricing date: | May 27
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| Settlement date: | June 2
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 0.675%
|
| Cusip: | 09709UJD1
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