Summary by Futu AI
Bank of America Corporation (BofA) has announced the pricing of its Capped Buffered Enhanced Return Notes linked to the Nasdaq-100 Index, which are due on March 30, 2026. The notes, priced on September 25, 2024, will be issued on September 30, 2024, with an approximate term of 18 months. The performance of the Nasdaq-100 Index will determine the payment on the notes. If the index's ending value exceeds its starting value, investors will receive 110% exposure to increases, capped at a maximum return of 16.50%. However, if the index declines by more than 10% from its starting value, investors will be exposed to downside risk, with up to 90% of the principal at risk. 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 $970.30 per $1,000.00 in principal amount, which is below the public offering price. The notes are identified by CUSIP No. 09711DJR4.