Summary by Futu AI
Bank of America has announced the pricing of its Contingent Income Issuer Callable Yield Notes, linked to the performance of the Dow Jones Industrial Average, the Russell 2000 Index, and the S&P 500 Index, with a maturity date of May 4, 2029. The notes, priced on May 1, 2024, will be issued on May 6, 2024, with an approximate 5-year term, unless called prior to maturity. The contingent coupon rate is set at 9.35% per annum, payable monthly, provided the closing level of each underlying index on the observation date is at least 70% of its starting value. The notes are callable quarterly beginning November 6, 2024, and are subject to the credit risk of BofA Finance LLC and Bank of America Corporation. The initial estimated value of the notes is $980.30 per $1,000.00 in principal amount, which is less than the public offering price. The notes will not be listed on any securities exchange and have CUSIP No. 09711BVR4.