Summary by Futu AI
Bank of America Corporation (BAC) has announced the pricing of its Contingent Income Auto-Callable Yield Notes, linked to the performance of the Nasdaq-100 Index, the Russell 2000 Index, and the VanEck Oil Services ETF. The notes, due July 2, 2026, were priced on June 28, 2024, and will be issued on July 3, 2024. The notes have an approximate 2-year term and offer quarterly contingent coupons if certain conditions are met, with the potential for automatic quarterly calls if the underlying assets perform at or above specified levels. 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 will not be listed on any securities exchange and have an initial estimated value of $980.50 per $1,000 in principal amount, which is less than the public offering price.