Summary by Futu AI
Bank of America has announced the pricing of its Contingent Income Issuer Callable Yield 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 30, 2027. The notes, priced on September 25, 2024, and issuing on September 30, 2024, have an approximate 3-year term, subject to earlier call, and offer a contingent coupon rate of 7.50% per annum, payable monthly under certain conditions. The notes are callable monthly beginning March 28, 2025, at Bank of America's discretion. The principal is at risk if the least performing underlying index declines by more than 30% from its starting value, with potential loss up to 100% of the principal. Payments on the notes are subject to the credit risk of BofA Finance LLC and Bank of America Corporation. The notes will not be listed on any securities exchange and have an initial estimated value of $963.80 per $1,000.00 in principal amount, which is less than the public offering price.