Summary by Futu AI
Bank of America has announced the pricing of its Contingent Income Issuer Callable Yield Notes Linked to the Least Performing of the Nasdaq-100 Index, the Russell 2000 Index, and the S&P 500 Index, due March 5, 2029. The Notes are expected to price on May 28, 2024, and issue on May 31, 2024, with an approximate 4.75-year term, unless called prior to maturity. Payments on the Notes are contingent on the performance of the individual indices and offer a 7.25% per annum coupon rate payable monthly, provided certain conditions are met. The Notes, callable beginning June 2, 2025, are subject to the credit risk of BofA Finance LLC and Bank of America Corporation, and will not be listed on any securities exchange. The initial estimated value of the Notes is expected to be between $900.00 and $950.00 per $1,000.00 in principal amount, which is less than the public offering price. The Notes are not FDIC insured, not bank guaranteed, and may lose value.