Bank of America Corporation (BofA) has announced the issuance of Autocallable Bear Strategic Accelerated Redemption Securities, linked to the S&P 500 Index, with a maturity date set for May 2025. These senior unsecured debt securities are fully and unconditionally guaranteed by BofA and are subject to an automatic call feature based on the performance of the S&P 500 Index on predetermined Observation Dates. The securities are callable at increasing amounts if the Index's closing level is less than or equal to the Starting Value on any Observation Date, with the first potential call occurring three months post-pricing date. If not called, investors face 1-to-1 downside exposure to increases in the Index, risking up to 100% of their principal. The notes...Show More

Bank of America Corporation (BofA) has announced the issuance of Autocallable Bear Strategic Accelerated Redemption Securities, linked to the S&P 500 Index, with a maturity date set for May 2025. These senior unsecured debt securities are fully and unconditionally guaranteed by BofA and are subject to an automatic call feature based on the performance of the S&P 500 Index on predetermined Observation Dates. The securities are callable at increasing amounts if the Index's closing level is less than or equal to the Starting Value on any Observation Date, with the first potential call occurring three months post-pricing date. If not called, investors face 1-to-1 downside exposure to increases in the Index, risking up to 100% of their principal. The notes do not offer periodic interest payments and have limited secondary market liquidity. The initial estimated value of the notes is expected to be between $9.22 and $9.88 per unit, which is below the public offering price of $10.00 per unit. The offering includes an underwriting discount and a hedging-related charge. The notes, which are not FDIC insured or bank guaranteed, may lose value. The pricing date is set for May 2024, with the settlement and maturity dates also in May of 2024 and 2025, respectively. BofA Securities will act as the calculation agent for the notes.