Summary by Futu AI
On April 30, 2024, Bank of America Corporation, through its finance subsidiary BofA Finance LLC, announced the issuance of structured investment securities known as Jump Securities with an Auto-Callable Feature. These securities, valued at $6,033,000, are based on the performance of three major indices: the S&P 500 Index, the Russell 2000 Index, and the TOPIX Index, with a maturity date set for May 3, 2030. The securities do not guarantee principal repayment and do not provide regular interest payments. Instead, they offer the potential for automatic redemption after one year, with an early redemption payment corresponding to an approximate 15.00% annual return if each underlying index's closing value is at or above its initial value on any quarterly determination date. If not redeemed early and...Show More