Summary by Futu AI
On June 24, 2024, BofA Finance LLC, a subsidiary of Bank of America Corporation (BAC), filed a Pricing Supplement for its Digital S&P 500 Index-Linked Notes due January 28, 2026. The notes, valued at $4,760,000, do not bear interest and are fully and unconditionally guaranteed by BAC. The return on these notes is linked to the performance of the S&P 500 Index from the trade date to the determination date. If the final index level on the determination date is at or above 90% of the initial index level, investors will receive a threshold settlement amount. However, if the final index level falls more than 10% below the initial level, investors will be exposed to a leveraged loss, potentially losing a significant portion, or all, of their investment. The initial estimated value of the notes is $994.10 per $1,000 face amount. The notes will not be listed on any securities exchange, and investment involves risks, including the credit risk of BofA Finance and BAC. The notes were issued on July 1, 2024, with BofA Securities, Inc. participating as the selling agent.