Summary by Futu AI
Bank of America Corporation (BAC) has announced the pricing of Capped Enhanced Return Notes linked to the common stock of Bristol-Myers Squibb Company, with an expected pricing date of June 26, 2024, and an issue date of June 28, 2024. The notes, which have an approximate 2.5-year term, are due on December 31, 2026. The performance of these notes is tied to the common stock of Bristol-Myers Squibb, and they offer a maximum return of 90.50%. The notes will not pay periodic interest and will not be listed on any securities exchange. The initial estimated value of the notes is expected to be between $913.10 and $963.10 per $1,000 in principal amount, which is less than the public offering price. Payments on the notes are subject to the credit risk of BofA Finance LLC and Bank of America Corporation. The notes are designed for investors who seek an investment with a return linked to the performance of the underlying stock and are willing to risk their principal and forgo current income and upside above the maximum return.