Published on 11/1/2021 in the Prospect News Structured Products Daily.
New Issue: BofA sells $335,000 7% fixed income issuer callable yield notes on S&P, Russell
Chicago, Nov. 1 – BofA Finance LLC priced $335,000 of 5.25% fixed income issuer callable yield notes due Sept. 29, 2023 linked to the worst performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes can be called at par on any quarterly determination date after six months.
The payout at maturity will be par unless any index finishes below its 70% threshold level, in which case investors will be fully exposed to any losses of the worst performing index.
The notes are guaranteed by Bank of America Corp.
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: | Fixed income issuer callable yield notes
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Underlying assets: | Russell 2000 index and S&P 500 index
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Amount: | $335,000
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Maturity: | Sept. 29, 2023
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Coupon: | 5.25% annualized, payable quarterly
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Price: | Par
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Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline of worst performing index
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Call option: | At par on any quarterly determination date after six months
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Initial levels: | 3,974.54 for S&P, 2,221.482 for Russell
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Downside thresholds: | 2,782.18 for S&P, 1,555.037 for Russell, 70% of initial levels
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Pricing date: | March 26
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Settlement date: | March 31
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Selling agent: | BofA Securities, Inc.
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Fees: | 2.5%
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Cusip: | 09709UDJ4
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