Summary by Futu AI
Bank of America has announced the pricing of its Contingent Income Issuer Callable Yield Notes, linked to the performance of the Nasdaq-100 Index, the Russell 2000 Index, and the S&P 500 Index, with a maturity date of December 17, 2026. The notes, priced on June 12, 2024, and set to issue on June 17, 2024, have an approximate 2.5-year term, subject to earlier call, and offer a contingent coupon rate of 7.75% per annum, payable monthly under certain conditions. The notes are callable monthly beginning December 17, 2024, at Bank of America's discretion. Payments on the notes are dependent on the performance of the underlying indices and are subject to the credit risk of BofA Finance LLC and Bank of America Corporation. The notes will not be listed on any securities exchange and have an initial estimated value of $966.10 per $1,000 in principal amount, which is less than the public offering price. The offering includes certain risk factors, such as the potential loss of principal, and is not FDIC insured or bank guaranteed.