Summary by Futu AI
Bank of America Corporation (BAC) and its subsidiary BofA Finance LLC have announced the offering of Accelerated Return Notes (ARNs) linked to the iShares Silver Trust. The ARNs, which have a term of approximately 14 months, offer investors 3-to-1 upside exposure to increases in the iShares Silver Trust, capped at a return of 42.00% to 46.00% over the principal amount. Conversely, investors will have 1-to-1 downside exposure with the entire principal at risk. The notes, which will not pay interest, have a principal amount of $10.00 per unit and do not guarantee a return of principal. The final terms will be determined on the pricing date, and the notes will not be listed on any exchange. Investors are advised to read the Preliminary Offering Documents, which detail the risks associated with this investment, including credit risk of BofA Finance and BAC, market volatility, and the unpredictability of silver prices. The notes are not regulated by the U.S. Commodity Futures Trading Commission and are subject to risks specific to silver and commodities trading.