Summary by Futu AI
Bank of America Corporation (BAC) has announced the offering of Capped Leveraged Index Return Notes (CAPPED LIRNs) linked to the S&P 500 Index, with BofA Finance LLC as the issuer and BAC as the guarantor. The principal amount is set at $10.00 per unit for a term of approximately two years. The notes offer 2-to-1 upside exposure to increases in the S&P 500 Index, capped at a value between $11.20 to $11.60 per unit, which translates to a 12.00% to 16.00% return over the principal amount. However, investors also face 1-to-1 downside exposure to decreases beyond a 10.00% decline in the index, risking up to 90.00% of their principal. The Threshold Value is set at 90% of the Starting Value of the S&P 500 Index. There will be...Show More