Summary by Futu AI
Bank of America Corporation (BofA) has announced the pricing of Variable Income Auto-Callable Yield Notes linked to the performance of stocks from Palantir Technologies Inc., Enphase Energy, Inc., and NVIDIA Corporation. The notes, with a five-year term and an 8.75% annual coupon rate payable monthly, are contingent on the performance of the underlying stocks. If the value of each stock is above 70% of its starting value on observation dates, the maximum coupon is paid; otherwise, a minimum coupon of 0.25% per annum is paid. The notes, callable from June 25, 2025, will be issued on June 28, 2024, and mature on June 28, 2029, unless called earlier. The offering is not FDIC insured, not bank guaranteed, and may lose value. The initial estimated value of the notes is $941.70 per $1,000 in principal, which is below 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 will not be listed on any securities exchange and have a CUSIP No. 09711DRM6.