Summary by Futu AI
Bank of America Corporation (BofA) has announced the issuance of Contingent Income Buffered Auto-Callable Securities due June 23, 2025, linked to the performance of the VanEck Oil Services ETF. The securities, which are senior debt securities fully guaranteed by BofA, do not guarantee the return of principal at maturity nor provide for regular interest payments. Instead, they offer the potential for contingent quarterly coupons if the ETF's closing price is at or above a specified barrier level. The securities will be automatically redeemed if the ETF's price meets certain conditions, with no further payments once redeemed. At maturity, investors may receive the principal amount and any unpaid coupons if the ETF's final share price has not declined beyond...Show More