Published on 5/5/2022 in the Prospect News Structured Products Daily.
New Issue: BofA sells $510,000 autocallable notes on Russell, S&P, Nasdaq
By Kiku Steinfeld
Chicago, May 5 – BofA Finance LLC priced $510,000 of autocallable notes due Oct. 3, 2024 linked to the least performing of the Nasdaq-100 index, 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 10.6% 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 31.8% if each index finishes at or above its initial level. If any index finishes below its initial level but each 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 from its initial level.
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: | Autocallable notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $510,000
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| Maturity: | Oct. 3, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, par plus 31.8%; if the least performing index finishes below initial level but at or above threshold level, par; otherwise, investors will be fully exposed to the decline of the least performing index from its initial level
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| Call: | Automatically at par plus 10.6% per year if each index closes at or above its initial level on any quarterly call valuation date after one year
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| Initial levels: | 4,307.54 for S&P, 14,689.62 for Nasdaq, 2,204.372 for Russell
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| Threshold levels: | 3,015.28 for S&P, 10,282.73 for Nasdaq, 1,543.060 for Russell; 70% of initial levels
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| Pricing date: | Sept. 30, 2021
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| Settlement date: | Oct. 5, 2021
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| Selling agent: | BofA Securities, Inc.
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| Fees: | 0.75%
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| Cusip: | 09709URC4
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