Summary by Moomoo AI
Bank of America Corporation (BofA) has announced the pricing of its Contingent Income Issuer Callable Yield Notes, linked to the performance of the Nasdaq-100 Equal Weighted Index, the Russell 2000 Index, and the S&P 500 Equal Weight Index, due July 28, 2028. The Notes are expected to price on July 25, 2024, and issue on July 30, 2024, with an approximate 4-year term, subject to early call. The contingent coupon rate is set at 11.00% per annum, payable monthly, provided the closing level of each underlying index on the applicable observation date is at or above 70% of its starting value. The Notes, callable beginning January 30, 2025, offer potential 1:1 downside exposure to the least performing underlying index, with up to 100% of the principal at risk. Payments on the Notes are subject to the credit risk of BofA Finance LLC and Bank of America Corporation. The Notes will not be listed on any securities exchange and have an initial estimated value expected to be between $930.00 and $980.00 per $1,000.00 principal amount, which is less than the public offering price.