Published on 9/21/2021 in the Prospect News Structured Products Daily.
New Issue: BofA sells $2.33 million 10.05% fixed income autocallable yield notes on three indexes
By William Gullotti
Buffalo, N.Y., Sept. 21 – BofA Finance LLC priced $2.33 million of 10.05% fixed income autocallable yield notes due Sept. 22, 2022 linked to the worst performing of the Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each index closes above its initial level on any monthly determination date after six months.
If the notes have not been called, the payout at maturity will be par unless any index closes below its 70% threshold value during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Fixed income autocallable yield notes
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| Underlying assets: | Russell 2000 index, S&P 500 index, Nasdaq-100 index
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| Amount: | $2,328,000
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| Maturity: | Sept. 22, 2022
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| Coupon: | 10.05% annualized, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any index closes below its downside threshold value during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
|
| Call: | At par if each index closes above its initial level on any monthly determination date after six months
|
| Initial levels: | 4,480.7 for S&P, 2,234.448 for Russell, 15,503.53 for Nasdaq
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| Downside thresholds: | 3,136.49 for S&P, 1,564.114 for Russell, 10,852.47 for Nasdaq; 70% of initial levels
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| Strike date: | Sept. 15
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| Pricing date: | Sept. 16
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| Settlement date: | Sept. 21
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| Selling agent: | BofA Securities, Inc.
|
| Fees: | 0.25%
|
| Cusip: | 09709USC3
|
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