Summary by Futu AI
Bank of America Corporation (BofA) has announced the pricing of Variable Income Auto-Callable Yield Notes linked to the performance of stocks from Advanced Micro Devices, Inc. (AMD), Enphase Energy, Inc. (ENPH), and Tesla, Inc. (TSLA). The notes, with an approximate 5-year term, offer an 8.50% annual coupon rate payable monthly if certain conditions are met, or a minimum coupon rate of 0.25% annually otherwise. The notes, which are not FDIC insured or bank guaranteed, may lose value and are not listed on any securities exchange. They are expected to price on May 28, 2024, and issue on May 31, 2024, with a maturity date of June 1, 2029. The notes are callable monthly beginning in May 2025, and all payments are subject to the credit risk of BofA...Show More