Published on 8/25/2020 in the Prospect News Structured Products Daily.
New Issue: BofA prices $650,000 contingent income autocallable yield notes on three indexes
By Kiku Steinfeld
Chicago, Aug. 25 – BofA Finance LLC priced $650,000 of contingent income autocallable yield notes due Feb. 8, 2022 linked to the worst performing of the Nasdaq-100 index, the Russell 1000 Value 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 8% if each index closes at or above its 60% coupon barrier on the related determination date.
The notes will be automatically redeemed at par if each index closes at or above its initial value on any monthly call observation date after six months.
The payout at maturity will be par if all three indexes close at or above their 60% trigger 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
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| 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 1000 Value index and S&P 500 index
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| Amount: | $650,000
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| Maturity: | Feb. 8, 2022
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| Coupon: | 8% per year if each index closes at or above its coupon barrier on the related determination date; payable monthly
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| Price: | Par
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| Payout at maturity: | Par if all three indexes close at or above their trigger values; otherwise, investors will be fully exposed to any losses of the worst performing index
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| Call: | Automatically redeemed at par if each index closes at or above initial value on any monthly call observation date after six months
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| Initial levels: | 10,905.88 for Nasdaq, 1,154.429 for Russell, 3,271.12 for S&P
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| Coupon barriers: | 6,543.53 for Nasdaq, 692.657 for Russell, 1,962.67 for S&P; 60% of initial levels
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| Trigger values: | 6,543.53 for Nasdaq, 692.657 for Russell, 1,962.67 for S&P 60% of initial levels
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| Pricing date: | Aug. 3
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| Settlement date: | Aug. 6
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| Selling Agent: | BofA Securities, Inc.
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| Fees: | 0.25%
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| Cusip: | 09709TL25
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