Published on 2/20/2021 in the Prospect News Structured Products Daily.
New Issue: BofA sells $978,000 autocallable notes tied to three indexes
By Kiku Steinfeld
Chicago, Feb. 22 – BofA Finance LLC priced $978,000 of autocallable notes due Feb. 10, 2026 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will be called at par plus 7.8% per year if each index closes at or above its call level on any biannual call valuation date. The call level will be 95% of the initial level.
The payout at maturity will be par plus 39% if each index finishes at or above 95% of its initial level. If each index finishes below 95% of its initial level but at or above its threshold level, 60% of its initial level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the least performing index.
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: | Autocallable notes
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| Underlying indexes: | Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average
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| Amount: | $978,000
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| Maturity: | Feb. 10, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or 95% of its initial level, par plus 39%; if each index finishes below 95% but at or above threshold level, par; otherwise, investors will be fully exposed to the decline of the least performing index
|
| Call: | Automatically at par plus 7.8% per year if the index closes at or above its 95% of its initial level on any biannual call valuation date
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| Initial levels: | 31,148.24 for Dow, 13,603.96 for Nasdaq, 2,233.327 for Russell
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| Threshold levels: | 18,688.94 for Dow, 8,162.38 for Nasdaq, 1,339.996 for Russell; 60% of initial levels
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| Pricing date: | Feb. 5
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| Settlement date: | Feb. 10
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| Selling agent: | BofA Securities, Inc.
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| Fees: | 4.125%
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| Cusip: | 09709UAV0
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