Summary by Futu AI
Bank of America Corporation (BAC) has announced the pricing of Capped Return Notes linked to the S&P 500 Index, with an issue date of June 28, 2024, and a maturity date of June 30, 2026. The Notes, which have an approximate two-year term, will not pay periodic interest and will not be listed on any securities exchange. The return on the Notes is contingent on the performance of the S&P 500 Index, with a maximum return of 13.00%. The initial estimated value of the Notes is $970.20 per $1,000 principal amount, which is below the public offering price. Payments on the Notes are subject to the credit risk of both BofA Finance LLC, as the issuer, and Bank of America Corporation, as the guarantor. The Notes are designed for investors who seek exposure to the S&P 500 Index and are willing to forgo market liquidity and bear the risk of the issuer and guarantor's credit.