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424B2: Prospectus

SEC announcement ·  May 20 17:02
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 principal amount of $10 per unit and totaling 83,000 units. The securities, issued by BofA Finance LLC and guaranteed by Bank of America, are set to price on May 16, 2024, with a settlement date of May 24, 2024, and a maturity date of May 30, 2025. These securities are automatically callable on predetermined Observation Dates, with payment amounts increasing on each date, starting at $10.775 per unit if called on the first date, and reaching $13.100 per unit on the final 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 do not...Show More
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 principal amount of $10 per unit and totaling 83,000 units. The securities, issued by BofA Finance LLC and guaranteed by Bank of America, are set to price on May 16, 2024, with a settlement date of May 24, 2024, and a maturity date of May 30, 2025. These securities are automatically callable on predetermined Observation Dates, with payment amounts increasing on each date, starting at $10.775 per unit if called on the first date, and reaching $13.100 per unit on the final 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 do not offer periodic interest payments and have limited secondary market liquidity. The initial estimated value of the notes is $9.804 per unit, which is below the public offering price of $10.00 per unit. The offering includes an underwriting discount of $0.10 per unit and a hedging-related charge of $0.05 per unit. The notes are senior unsecured debt obligations of BofA Finance and rank equally with other unsecured obligations, except where law dictates otherwise. The guarantee by Bank of America ranks equally with other unsecured obligations and senior to subordinated obligations. The performance of the notes is subject to the credit risk of both BofA Finance and Bank of America.

This announcement is a separate document:

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