Summary by Moomoo AI
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