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 SPDR S&P Regional Banking ETF. The notes, priced on June 14, 2024, are set to issue on June 20, 2024, with a maturity date of June 18, 2026. The notes offer a contingent coupon rate of 10.50% per annum, payable monthly, provided the underlying indices do not fall below 70% of their starting values. The notes are callable monthly beginning December 19, 2024, at Bank of America's discretion. Payments on the notes 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 $970.80 per $1,000 in principal, which is less than the public offering price. The total offering size is $511,000.00, with an underwriting discount of $2,288.25, resulting in proceeds before expenses to BofA Finance of $508,711.75.