Summary by Futu AI
Bank of America has announced the pricing of its Auto-Callable Enhanced Return 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 September 28, 2029. The notes, priced on September 25, 2024, and set to issue on September 30, 2024, have an approximate 5-year term, subject to earlier call. Payments on the notes depend on the individual performance of the three indices, with automatic callable features and potential 150.00% upside exposure to the least performing underlying, assuming the notes are not called prior to maturity. However, if any underlying declines by more than 30% from its starting value, the investment will have 1:1 downside exposure, risking up to 100% of the principal. The notes, guaranteed by Bank of America Corporation and not listed on any securities exchange, have an initial estimated value of $933.80 per $1,000.00 in principal amount, which is less than the public offering price. The notes carry no periodic interest payments and are subject to the credit risk of BofA Finance LLC and Bank of America Corporation.