Summary by Futu AI
Bank of America Corporation (BofA) has announced the pricing of its Contingent Income Auto-Callable Yield Notes, linked to the performance of Broadcom Inc. and NVIDIA Corporation's common stock, with a maturity date of May 13, 2027. The notes, expected to price on May 10, 2024, and issue on May 15, 2024, have an approximate 3-year term, subject to earlier call. Payments on the notes are contingent on the performance of the underlying stocks, with monthly coupons if the stocks' values are above 60% of their starting values, assuming the notes have not been called. The notes are callable monthly beginning May 12, 2025, if the stocks' values exceed their starting values on any call observation date. At maturity, investors are exposed to downside risk if either underlying...Show More