Summary by Futu AI
Bank of America has announced the pricing of its Contingent Income Buffered Issuer Callable Yield Notes, linked to the performance of the Russell 2000 Index and the S&P 500 Index, with a scheduled issue date of June 28, 2024. The notes, which have an approximate 5-year term, offer a contingent coupon rate of 7.25% per annum, payable monthly if the closing level of each underlying index is at or above 80% of its starting value, assuming the notes have not been called. The notes are callable monthly beginning June 30, 2025, at Bank of America's option. The initial estimated value of the notes is $950.30 per $1,000 in principal, 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 will not be listed on any securities exchange and have a CUSIP No. 09711DRF1.