Summary by Futu AI
Bank of America Corporation (BofA) has announced the issuance of Fixed Coupon Barrier Notes linked to a basket of two stocks, CrowdStrike Holdings, Inc. and Palo Alto Networks, Inc., with an equal weight assigned to each. The notes, issued by BofA Finance LLC and guaranteed by BofA, have a principal amount of $10 per unit, totaling $5 million. They offer a fixed quarterly coupon payment of $0.325 and have a maturity date of June 20, 2025, with the pricing date set for June 12, 2024. The notes are designed to return the principal amount at maturity if the basket's value does not decrease by more than 20%; otherwise, investors are exposed to a 1-to-1 downside with up to 100% of the principal at risk. The initial estimated value...Show More