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 June 15, 2029. The notes, priced on June 12, 2024, will be issued on June 17, 2024, with an approximate 5-year term, unless called prior to maturity. The contingent coupon rate is set at 8.70% per annum, payable quarterly, provided each underlying index's closing level is at or above 65% of its starting value, assuming the notes have not been called. The notes are callable quarterly beginning December 17, 2024, at Bank of America's option. If any underlying index declines by more than 40% from its starting value, the investment will be subject to downside exposure...Show More