Summary by Moomoo AI
Bank of America Corporation (BofA) has announced the pricing of its Contingent Income Buffered Issuer Callable Yield Notes, linked to the performance of the Russell 2000 Index and the S&P 500 Index, with a maturity date of October 4, 2029. The notes, priced on September 30, 2024, and issued on October 3, 2024, have an approximate 5-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 April 3, 2025, at BofA's option. Payments on the notes depend on the performance of the indices, and if either index declines by more than 15% from its starting value, investors' principal is at risk. The notes are not FDIC insured, not bank guaranteed, and may lose value. They will not be listed on any securities exchange. The initial estimated value of the notes is $978.70 per $1,000.00 in principal amount, which is less than the public offering price. The notes are subject to the credit risk of BofA Finance LLC and Bank of America Corporation.