Published on 4/27/2021 in the Prospect News Structured Products Daily.
New Issue: BofA prices $936,000 contingent income autocallable yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, April 27 – BofA Finance LLC priced $936,000 of contingent income autocallable yield notes due April 13, 2023 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 7.15% if each index closes at or above its 70% coupon barrier on the related determination date, plus any previously unpaid coupon.
The notes will be automatically redeemed at par if each index closes at or above its initial value on any quarterly observation date after six months.
The payout at maturity will be par if all three indexes close at or above their 70% threshold values.
Otherwise, investors will be fully exposed to any losses of the worst performing index.
The notes will be 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: | Contingent income autocallable yield notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $936,000
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| Maturity: | April 13, 2023
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| Coupon: | 7.15% per year, payable monthly if each index closes at or above its coupon barrier on the related determination date, plus any previously unpaid coupon
|
| Price: | Par
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| Payout at maturity: | Par if all three indexes close at or above their threshold values; otherwise, investors will be fully exposed to any losses of the worst performing index
|
| Call: | Automatically redeemed at par if each index closes at or above initial value on any quarterly observation date after six months
|
| Initial levels: | 13,758.5 for Nasdaq, 2,242.596 for Russell, 4,097.17 for S&P
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| Coupon barriers: | 9,630.95 for Nasdaq, 1,569.817 for Russell, 2,868.02 for S&P; 70% of initial levels
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| Threshold values: | 9,630.95 for Nasdaq, 1,569.817 for Russell, 2,868.02 for S&P; 70% of initial levels
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| Pricing date: | April 8
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| Settlement date: | April 12
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| Selling Agent: | BofA Securities, Inc.
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| Fees: | 0.25%
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| Cusip: | 09709UGN2
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