Summary by Moomoo AI
Bank of America has announced the pricing of Variable Income Auto-Callable Yield Notes linked to the performance of stocks from Affirm Holdings, Inc., NVIDIA Corporation, and First Solar, Inc. The notes, with an approximate 5-year term, offer an 8.50% annual coupon rate, payable monthly if the stocks perform above 65% of their starting value; otherwise, a 0.25% annual rate applies. The notes, callable from August 22, 2025, will issue on August 27, 2024, and mature on August 27, 2029, unless called prior. Payments depend on the individual stock performance and 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 of $940.50 per $1,000 in principal amount, which is below the public offering price. The offering price per note is $1,000, with total proceeds before expenses to BofA Finance of $481,250.00. The notes are not FDIC insured, not bank guaranteed, and may lose value.