Summary by Futu AI
Bank of America Corporation (BAC) has announced the pricing of Contingent Income Issuer Callable Yield Notes Linked to the Least Performing of the Nasdaq-100 Index, the Russell 2000 Index, and the SPDR S&P Regional Banking ETF, due July 22, 2026. The Notes are expected to price on July 17, 2024, and issue on July 22, 2024, with an approximate 2-year term, unless called prior to maturity. The payments on the Notes will depend on the individual performance of the specified indices and ETF. The contingent coupon rate is set at 8.75% per annum, payable monthly if certain conditions are met. The Notes, callable beginning January 23, 2025, are subject to the credit risk of BofA Finance LLC and Bank of America Corporation. They will not be listed on any securities exchange and have an initial estimated value between $910.00 and $960.00 per $1,000.00 in principal amount, which is less than the public offering price. The Notes are designed for investors who seek a higher interest rate than current dividend yields or fixed income returns.