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 March 19, 2026. The notes, priced on June 14, 2024, and set to issue on June 20, 2024, have an approximate 21-month term, subject to earlier call. The contingent coupon rate is 9.50% per annum, payable monthly if each underlying index's closing level is at or above 70% of its starting value, assuming the notes have not been called. The notes, callable monthly beginning September 19, 2024, at Bank of America's option, will not be listed on any securities exchange. The initial estimated value of the notes is $985.20 per $1,000 in principal, which is less than the public offering price. The notes are subject to the credit risk of BofA Finance LLC and Bank of America Corporation, and all payments depend on the performance of the underlying indexes.