Published on 12/14/2021 in the Prospect News Structured Products Daily.
New Issue: BofA sells $500,000 capped return notes on banking ETF
Chicago, Dec. 14 – BofA Finance LLC priced $500,000 of 0% capped return notes due April 7, 2026 linked to the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The payout at maturity will be par plus any ETF gain, capped at $3,000 per $1,000 note.
If the ETF falls by up to 25%, the payout will be par. Investors will be fully exposed to any losses of the fund
BofA Securities, Inc. is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Capped return notes
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Underlying ETF: | SPDR S&P Regional Banking ETF
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Amount: | $500,000
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Maturity: | April 7, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any ETF gain, capped at $3,000 per $1,000 note; par if ETF falls by up to 25%; full exposure to losses if fund declines beyond threshold level
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Initial value: | $66.82
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Threshold level: | $50.12, 75% of initial value
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Pricing date: | April 1
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Settlement date: | April 7
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Agent: | BofA Securities, Inc.
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Fees: | 1.125%
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Cusip: | 09709UFV5
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