Summary by Futu AI
Bank of America Corporation (BofA Finance) has announced the pricing of Enhanced Return Notes linked to the S&P 500 Futures Excess Return Index, with an expected pricing date of May 31, 2024, and an issue date of June 5, 2024. The notes, which have an approximate term of 5 years, offer investors 200% upside exposure to increases in the index value, with a maximum of 100% of the principal at risk if the index declines by more than 50% from its starting value. The notes, which will not pay periodic interest and will not be listed on any securities exchange, are subject to the credit risk of both BofA Finance as the issuer and Bank of America Corporation as the guarantor. The initial estimated value of the notes is expected to be between $940.00 and $990.00 per $1,000.00 in principal amount, which is less than the public offering price. The notes are identified by CUSIP No. 09711BXW1 and are not FDIC insured, not bank guaranteed, and may lose value. The offering is not available in any jurisdiction where it would not be permitted.