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 May 18, 2027. The notes, priced on May 13, 2024, and issued on May 16, 2024, have an approximate 3-year term, subject to earlier call, and offer a contingent coupon rate of 10.00% per annum, payable monthly if certain conditions are met. The notes are callable monthly beginning on August 16, 2024, at Bank of America's option. The principal is at risk if any 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...Show More