Summary by Futu AI
Bank of America has announced the pricing of its Auto-Callable Notes Linked to the Least Performing of the Russell 2000 Index and the S&P 500 Index, due September 28, 2028. The notes, priced on September 25, 2024, will be issued on September 30, 2024, with an approximate 4-year term, unless called prior to maturity. Payments on the notes are contingent on the individual performance of the Russell 2000 Index and the S&P 500 Index. The notes are automatically callable quarterly beginning September 26, 2025, with specific conditions outlined for automatic call and redemption amounts. The initial estimated value of the notes is $962.40 per $1,000.00 in principal amount, which is below the public offering price. The notes, which will not bear periodic interest payments and will not be listed on any securities exchange, are subject to the credit risk of BofA Finance LLC and Bank of America Corporation. The total underwriting discount and proceeds before expenses to BofA Finance are also detailed in the announcement.