Summary by Futu AI
Bank of America Corporation, through its finance subsidiary BofA Finance LLC, has announced the issuance of structured investment securities with an auto-callable feature based on the performance of the Russell 2000 Index and the TOPIX Index. The $5,778,000 Jump Securities are due on June 20, 2029, and do not guarantee principal repayment nor provide regular interest payments. The securities, which are principal at risk, will be automatically redeemed if the indices' closing values on quarterly determination dates are at or above their initial values, providing a return of approximately 6.00% per annum. If not redeemed early and final index values are at or above initial values, investors receive a fixed positive return at maturity. However, if the final index values are below the downside threshold levels, investors will receive less than 80% of the principal, potentially zero. The offering, fully guaranteed by Bank of America Corporation, is part of BofA Finance's 'Medium-Term Notes, Series A' program. The securities are not FDIC insured, and their purchase involves the risk of losing the entire initial investment.