Summary by Futu AI
Bank of America Corporation (BAC) 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 14, 2024, will issue on June 20, 2024, with an approximate 2.5-year term, unless called prior to maturity. Payments on the notes are contingent on the performance of the individual indices and will provide a 9.25% per annum coupon rate payable monthly if the closing level of each index is at or above 70% of its starting value, assuming the notes have not been called. The notes are callable monthly beginning December 19, 2024, at the issuer's option. If any index declines by...Show More