Bank of America Corporation (BofA) has announced the pricing of a new financial instrument, the Autocallable Contingent Coupon (with Memory) Barrier Notes, linked to the iShares Silver Trust, with a maturity date set for January 27, 2026. BofA Finance LLC is issuing the notes, which are fully and unconditionally guaranteed by Bank of America Corporation. The notes are designed to pay a contingent coupon payment if the underlying fund's value is at or above a specified barrier and are automatically callable under certain conditions. The notes offer a potential annual coupon rate of approximately 9.50% per annum, with the initial estimated value of the notes at the pricing date being $9.798 per unit, which is below the public offering price of $10.00 per unit...Show More

Bank of America Corporation (BofA) has announced the pricing of a new financial instrument, the Autocallable Contingent Coupon (with Memory) Barrier Notes, linked to the iShares Silver Trust, with a maturity date set for January 27, 2026. BofA Finance LLC is issuing the notes, which are fully and unconditionally guaranteed by Bank of America Corporation. The notes are designed to pay a contingent coupon payment if the underlying fund's value is at or above a specified barrier and are automatically callable under certain conditions. The notes offer a potential annual coupon rate of approximately 9.50% per annum, with the initial estimated value of the notes at the pricing date being $9.798 per unit, which is below the public offering price of $10.00 per unit. The notes are not FDIC insured, not bank guaranteed, and may lose value, with limited secondary market liquidity and no exchange listing. The offering includes a total of 100,000 units with a $10 principal amount per unit, resulting in total proceeds before expenses to BofA Finance of $990,000.00. The pricing date for the notes is July 18, 2024, with a settlement date of July 25, 2024. Investors are advised to read the detailed risk factors and consult with their financial advisors before investing.