Published on 7/12/2022 in the Prospect News Structured Products Daily.
New Issue: BofA sells $610,000 contingent income issuer callable yield notes on three indexes
By Kiku Steinfeld
Chicago, July 12 – BofA Finance LLC priced $610,000 of contingent income issuer callable yield notes due Dec. 27, 2024 linked to the worst performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.75% if each underlying index closes at or above its 70% coupon barrier on the observation date for that period.
The notes are callable at par plus any coupon otherwise due on any quarterly determination date after six months.
The payout at maturity will be par plus the final coupon if each index finishes at or above its downside threshold. Otherwise, investors will be fully exposed to the decline of the worst performing index from its initial level if it closes below its downside threshold.
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.
|
| Issue: | Contingent income issuer callable yield notes
|
| Underlying indexes: | Dow Jones industrial average, Nasdaq-100, Russell 2000 index
|
| Amount: | $610,000
|
| Maturity: | Dec. 27, 2024
|
| Coupon: | 9.75% annualized rate, payable monthly if each index closes at or above its coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon if each index finishes at or above its downside threshold; investors will be fully exposed to the decline of the worst performing index from its initial level if it closes below its downside threshold
|
| Call option: | At par plus any coupon due on any quarterly determination date after six months
|
| Initial levels: | 35,753.89 for Dow, 16,180.14 for Nasdaq, 2,221.903 for Russell
|
| Coupon barriers: | 25,027.72 for Dow, 11,326.10 for Nasdaq, 1,555.332 for Russell; 70% of initial levels
|
| Downside thresholds: | 25,027.72 for Dow, 11,326.10 for Nasdaq, 1,555.332 for Russell; 70% of initial levels
|
| Pricing date: | Dec. 22, 2021
|
| Settlement date: | Dec. 28, 2021
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 0.7%
|
| Cusip: | 09709UXF0
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
