Summary by Futu AI
Bank of America Corporation (BofA Finance) 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 SPDR S&P Regional Banking ETF. The notes, due May 17, 2027, are set to price on June 12, 2024, and will issue on June 17, 2024. The notes have an approximate 3-year term and offer a contingent coupon rate of 9.50% per annum, payable monthly, provided certain conditions are met. The notes are callable monthly beginning December 17, 2024, at the issuer's option. Payments on the notes are subject to the credit risk of BofA Finance and Bank of America Corporation. The initial estimated value of the notes is $948.10 per $1,000.00 in principal amount, which is less than the public offering price. The notes will not be listed on any securities exchange and have a CUSIP No. 09711DRR5.