Summary by Moomoo AI
Bank of America Corporation (BofA) has announced the issuance of Autocallable Strategic Accelerated Redemption Securities linked to the S&P 500 Index, with a principal amount of $10 per unit. The securities, totaling 1,516,331 units, are set to price on May 16, 2024, with a settlement date of May 23, 2024, and a maturity date of May 28, 2027. These notes are issued by BofA Finance LLC and are fully and unconditionally guaranteed by BofA. The notes are automatically callable on specified observation dates, with payment amounts increasing if called later in the term. If not called, investors face 1-to-1 downside exposure to decreases in the Index, with the potential to lose up to 100% of their principal. The notes do not offer periodic interest payments and have limited secondary...Show More