Summary by Moomoo AI
Bank of America Corporation (BofA Finance) has announced the pricing of its Contingent Income Auto-Callable Yield Notes, linked to the performance of the Russell 2000 Index and the S&P 500 Index, with a maturity date of May 1, 2028. The notes, priced on April 26, 2024, will be issued on April 30, 2024, with an approximate term of four years, unless called prior to maturity. The contingent coupon rate is set at 7.68% per annum, payable quarterly, provided certain conditions related to the underlying indices are met. The notes are callable quarterly beginning April 28, 2025, and 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 $968.50 per $1,000 in principal amount, which is less than the public offering price. The total proceeds before expenses to BofA Finance are expected to be $2,301,000.00.