Summary by Moomoo AI
Bank of America has announced the pricing of its Contingent Income Buffered Issuer Callable Yield Notes, linked to the Russell 2000 Index and the S&P 500 Index, with a maturity date of May 1, 2029. The notes, priced on April 26, 2024, will be issued on April 30, 2024, with an approximate 5-year term, unless called prior to maturity. Payments on the notes are contingent on the performance of the indices and include a coupon rate of 7.10% per annum, payable monthly if the indices' closing levels are above 75% of their starting values. The notes, callable beginning May 1, 2025, are subject to a maximum 85% principal loss if either underlying index declines more than 15% from its starting value. The notes are not FDIC insured, not bank guaranteed, and may lose...Show More