Summary by Futu AI
Bank of America Corporation (BofA Finance) has announced the pricing of its Contingent Income Issuer Callable Yield Notes, linked to the performance of the Nasdaq-100 Index, the Russell 2000 Index, and the S&P 500 Index, with a maturity date of March 29, 2029. The notes, priced on June 25, 2024, and issuing on June 28, 2024, have an approximate term of 4.75 years, unless called prior to maturity. The contingent coupon rate is set at 7.20% per annum, payable monthly if each underlying index's closing level is at or above 75% of its starting value, assuming the notes have not been called. The notes, callable monthly beginning June 30, 2025, at BofA Finance's option, are subject to credit risk of both BofA Finance and Bank of America Corporation. The initial estimated value of the notes is $945.80 per $1,000 in principal, which is less than the public offering price. The notes will not be listed on any securities exchange and have a CUSIP No. 09711DD74.