Summary by Futu AI
Bank of America Corporation has announced the pricing of its Capped Return Notes linked to the S&P 500 Index, which are due on July 2, 2026. The Notes, priced on June 28, 2024, will be issued on July 3, 2024, with an approximate term of two years. The performance of the S&P 500 Index will determine the payment on the Notes, with a maximum return of 16.00%. The Notes, which will not pay periodic interest and will not be listed on any securities exchange, are subject to the credit risk of both BofA Finance LLC, the issuer, and Bank of America Corporation, the guarantor. The initial estimated value of the Notes is $982.40 per $1,000 in principal amount, which is below the public offering price. The Notes are designed for investors who seek exposure to the S&P 500 Index and are comfortable with the credit risk of Bank of America and the absence of periodic interest payments.