Summary by Moomoo AI
Bank of America Corporation (BofA Finance) has announced the pricing of its Contingent Income Issuer Callable Yield Notes Linked to the Least Performing of the Russell 2000 Index, the S&P 500 Index, and the Utilities Select Sector SPDR Fund, due April 20, 2028. The notes, priced on April 17, 2024, will issue on April 22, 2024, with an approximate 4-year term, unless called prior to maturity. Payments on the notes are contingent on the performance of the individual indices and fund, with a 10.00% per annum coupon rate payable monthly if certain conditions are met. The notes are callable monthly beginning on July 22, 2024, at the issuer's option. If not called, the principal is at risk if any underlying declines by more than 35% from its starting value. All payments are subject to the credit risk of BofA Finance and Bank of America Corporation. The notes will not be listed on any securities exchange and have an initial estimated value of $971.90 per $1,000.00 in principal amount, which is less than the public offering price.