[FWP] Bank of America Corporation Free Writing Prospectus

Rhea-AI Filing Summary

Bank of America has announced Jump Securities with Auto-Callable Feature linked to Dow Inc. stock, due July 12, 2030. These principal-at-risk securities are issued by BofA Finance and guaranteed by Bank of America Corporation.

Key features include:

• Principal amount: $1,000 per security
• Early redemption feature if stock price meets/exceeds call threshold (100% of initial price)
• Potential early redemption payments offering approximately 23.40% return per annum
• At maturity: $2,170 payment if final stock price ≥ 80% of initial price; otherwise loss proportional to stock decline
• Estimated value between $900-$950 per $1,000 principal

Notable risks include potential loss of principal, limited upside potential, no interest payments, and early redemption risk. The securities will not be listed on any exchange and are subject to Bank of America's credit risk.

Positive

• Potential for significant returns with minimum 23.40% per annum through early redemption feature if stock performs well
• Downside protection with 20% buffer (final redemption barrier at 80% of initial price)
• Full principal protection if underlying stock (DOW) stays above 80% of initial price at maturity
• Maximum potential payment at maturity of at least $2,170 per $1,000 principal (117% return over 5 years)

Negative

• No participation in any upside appreciation of the underlying stock beyond fixed returns
• Significant principal risk with potential for complete loss if stock falls below 80% barrier
• Securities are priced at premium to estimated value ($900-$950 vs $1,000 issue price)
• No regular interest payments or dividends throughout the 5-year term
• Limited liquidity with no exchange listing planned

	FREE WRITING PROSPECTUS
	Filed Pursuant to Rule 433
	Registration Statement Nos. 333-268718 and 333-268718-01
	Dated June 25, 2025

Jump Securities with Auto-Callable Feature Based on the Performance of the Common Stock of Dow Inc. due July 12, 2030

Fully and Unconditionally Guaranteed by Bank of America Corporation

Principal at Risk Securities

This document provides a summary of the terms of the securities. Investors must carefully review the accompanying preliminary pricing supplement referenced below, product supplement, prospectus supplement and prospectus, and the “Risk Considerations” on the following page, prior to making an investment decision.

The securities do not guarantee the repayment of principal and do not provide for the regular payment of interest. Investors will not participate in any appreciation of the underlying stock. The securities are for investors who are willing to risk their principal and forego current income and participation in the appreciation of the underlying stock in exchange for the possibility of receiving an early redemption payment or payment at maturity greater than the stated principal amount if the determination closing price or the final share price is at or above the call threshold level or the final redemption barrier level, as applicable, on the related quarterly determination date or the final determination date, respectively.  The securities are our senior debt securities. Any payments on the securities are fully and unconditionally guaranteed by Bank of America Corporation (“BAC”). The securities are issued as part of BofA Finance LLC’s (“BofA Finance”) “Medium-Term Notes, Series A” program.

SUMMARY TERMS
Issuer:	BofA Finance
Guarantor:	BAC
Underlying stock:	Dow Inc. common stock (New York Stock Exchange symbol: “DOW”).
Stated principal amount:	$1,000.00 per security
Issue price:	$1,000.00 per security
Pricing date:	July 9, 2025
Original issue date:	July 11, 2025 (2 business days after the pricing date)
Maturity date:	July 12, 2030
Early redemption:	If, on any quarterly determination date (other than the final determination date), beginning on July 16, 2026, the determination closing price of the underlying stock is greater than or equal to the call threshold level, the securities will be automatically redeemed for the applicable early redemption payment on the related early redemption date. No further payments will be made on the securities once they have been redeemed.
Early redemption payment:	The early redemption payment for each quarterly determination date prior to the final determination date will be an amount in cash per stated principal amount corresponding to a return of approximately at least 23.40% per annum. See “Determination Dates, Early Redemption Dates and Early Redemption Payments” below.
Determination closing price:		The closing price of the underlying stock on any determination date (other than the final determination date) times the adjustment factor on such date.
Payment at maturity:	If the securities have not previously been redeemed, you will receive at maturity a cash payment per security as follows: ●    If the final share price is greater than or equal to the final redemption barrier level:  At least $2,170.00 (set on the pricing date) ●    If the final share price is less than the final redemption barrier level:  $1,000 × share performance factor Under these circumstances, the payment at maturity will be less than the stated principal amount of the securities and could be zero.
Initial share price:	The closing price of the underlying stock on the pricing date.
Final share price:	The closing price of the underlying stock on the final determination date times the adjustment factor on such date.
Share performance factor:	The final share price divided by the initial share price
Adjustment factor:	1, subject to adjustment for certain corporate events relating to the underlying stock as described in “Description of the Notes — Anti-Dilution Adjustments” beginning on page PS-23 of the accompanying product supplement.
Determination dates:	Quarterly. See “Determination Dates, Early Redemption Dates and Early Redemption Payments” below. We also refer to July 9, 2030 as the final determination date. The determination dates are subject to postponement as set forth in “Description of the Notes—Certain Terms of the Notes—Events Relating to Observation Dates” beginning on page PS-23 of the accompanying product supplement.
Early redemption dates:	Quarterly, beginning on July 21, 2026. See “Determination Dates, Early Redemption Dates and Early Redemption Payments” below.
Call threshold level:	100.00% of the initial share price.
Final redemption barrier level:	80% of the initial share price.
CUSIP / ISIN:	09711HZA4 / US09711HZA49
Listing:	The securities will not be listed on any securities exchange.
Estimated value on the pricing date:	Expected to be between $900.00 and $950.00 per $1,000 in principal amount of securities. See “Structuring the securities” in the preliminary pricing supplement.
Preliminary pricing supplement	https://www.sec.gov/Archives/edgar/data/70858/000191870425009958/form424b2.htm

Hypothetical Payment at Maturity (if the securities have not been previously redeemed)
Change in the Performance of the Underlying Stock	Payment at Maturity (excluding any contingent quarterly coupon payable at maturity)
+50.00%	At least $2,170.00 (set on the pricing date)
+40.00%	At least $2,170.00 (set on the pricing date)
+30.00%	At least $2,170.00 (set on the pricing date)
+20.00%	At least $2,170.00 (set on the pricing date)
+10.00%	At least $2,170.00 (set on the pricing date)
0.00%	At least $2,170.00 (set on the pricing date)
-10.00%	At least $2,170.00 (set on the pricing date)
-20.00%	At least $2,170.00 (set on the pricing date)
-21.00%	$790.00
-30.00%	$700.00
-40.00%	$600.00
-60.00%	$400.00
-70.00%	$300.00
-80.00%	$200.00
-90.00%	$100.00
-100.00%	$0.00

The pricing date, issue date and other dates set forth to the left and on the following page are subject to change, and will be set forth in the final pricing supplement relating to the securities.

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Determination Dates, Early Redemption Dates and Early Redemption Payments

Determination Dates		Early Redemption Dates		Early Redemption Payments (per $1,000 Security)*
1st determination date:	July 16, 2026	1st early redemption date:	July 21, 2026	At least $1,234.00
2nd determination date:	October 9, 2026	2nd early redemption date:	October 15, 2026	At least $1,292.50
3rd determination date:	January 11, 2027	3rd early redemption date:	January 14, 2027	At least $1,351.00
4th determination date:	April 9, 2027	4th early redemption date:	April 14, 2027	At least $1,409.50
5th determination date:	July 9, 2027	5th early redemption date:	July 14, 2027	At least $1,468.00
6th determination date:	October 11, 2027	6th early redemption date:	October 14, 2027	At least $1,526.50
7th determination date:	January 10, 2028	7th early redemption date:	January 13, 2028	At least $1,585.00
8th determination date:	April 10, 2028	8th early redemption date:	April 13, 2028	At least $1,643.50
9th determination date:	July 10, 2028	9th early redemption date:	July 13, 2028	At least $1,702.00
10th determination date:	October 9, 2028	10th early redemption date:	October 12, 2028	At least $1,760.50
11th determination date:	January 9, 2029	11th early redemption date:	January 12, 2029	At least $1,819.00
12th determination date:	April 9, 2029	12th early redemption date:	April 12, 2029	At least $1,877.50
13th determination date:	July 9, 2029	13th early redemption date:	July 12, 2029	At least $1,936.00
14th determination date:	October 9, 2029	14th early redemption date:	October 12, 2029	At least $1,994.50
15th determination date:	January 9, 2030	15th early redemption date:	January 14, 2030	At least $2,053.00
16th determination date:	April 9, 2030	16th early redemption date:	April 12, 2030	At least $2,111.50
Final determination date:	July 9, 2030	See “Maturity date” above.		See “Payment at maturity” above.

*The actual Early Redemption Payments will be set on the pricing date.

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You will find a link to the accompanying preliminary pricing supplement for the securities above and links to the accompanying product supplement, prospectus supplement and prospectus for the securities under “Additional Information about the Securities” in the preliminary pricing supplement, which you should read and understand prior to investing in the securities.

This free writing prospectus is a summary of the terms of the securities and factors that you should consider before deciding to invest in the securities. BofA Finance has filed a registration statement (including preliminary pricing supplement, product supplement, prospectus supplement and prospectus) with the SEC, which may, without cost, be accessed on the SEC website at www.sec.gov or obtained from BofA Securities, Inc. (“BofAS”) by calling 1-800-294-1322. Before you invest, you should read this pricing supplement and the accompanying product supplement, prospectus supplement and prospectus for information about us, BAC and this offering.

Underlying Stock

For information about the underlying stock, including historical performance information, see the accompanying preliminary pricing supplement.

Risk Considerations

The risks set forth below are discussed in more detail in the “Risk Factors” section in the accompanying preliminary pricing supplement. Please review those risk factors carefully prior to making an investment decision.

Structure-related Risks

■    Your investment may result in a significant loss; there is no guaranteed return of principal.

■    Any positive investment return on the securities is limited.

■    The securities do not bear interest.

■    The securities are subject to potential early redemption, which would limit your ability to receive further payment on the securities.

■    Your return on the securities may be less than the yield on a conventional debt security of comparable maturity.

■    The early redemption payment or payment at maturity, as applicable, will not reflect changes in the price of the underlying stock other than on the related determination dates or the final determination date, as applicable.

■    Any payments on the securities are subject to our credit risk and the credit risk of the Guarantor, and any actual or perceived changes in our or the Guarantor’s creditworthiness are expected to affect the value of the securities.

■    We are a finance subsidiary and, as such, have no independent assets, operations, or revenues.

Valuation- and Market-related Risks

■    The price to public you pay for the securities will exceed their initial estimated value.

■    The initial estimated value does not represent a minimum or maximum price at which we, BAC, BofAS or any of our other affiliates would be willing to purchase your securities in any secondary market (if any exists) at any time.

■    We cannot assure you that a trading market for your securities will ever develop or be maintained.

Conflict-related Risks

■    Trading and hedging activities by us, the guarantor and any of our other affiliates, including BofAS, may create conflicts of interest with you and may affect your return on the securities and their market value.

■    There may be potential conflicts of interest involving the calculation agent, which is an affiliate of ours.

Underlying Stock-related Risks

■    The Underlying Company will have no obligations relating to the securities.

■    The business activities of us, the Guarantor and any of our other affiliates, including BofAS, relating to the Underlying Company may create conflicts of interest with you.

■    The terms of the securities will not be adjusted for all corporate events that could affect the Underlying Company.

Tax-related Risks

■    The U.S. federal income tax consequences of an investment in the securities are uncertain, and may be adverse to a holder of the securities.

Tax Considerations

You should review carefully the discussion in the accompanying preliminary pricing supplement under the caption “Additional Information About the Securities—Tax considerations” concerning the U.S. federal income tax consequences of an investment in the securities, and you should consult your tax adviser.

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FAQ

What are the key terms of BAC's Jump Securities linked to Dow Inc. stock due July 2030?

The securities are issued by BofA Finance LLC and guaranteed by BAC with a $1,000 principal amount per security. They feature an auto-callable structure with quarterly determination dates starting July 16, 2026. If the Dow Inc. stock price equals or exceeds the call threshold level (100% of initial price), the securities will be automatically redeemed with a payment of approximately 23.40% per annum. At maturity, if not previously redeemed, investors receive at least $2,170 if the stock is above 80% of initial price, otherwise they receive reduced principal based on stock performance.

What is the maximum potential loss on BAC's Jump Securities (FWP filed June 2025)?

Investors can lose up to 100% of their principal investment in these BAC-guaranteed securities. If the final share price of Dow Inc. stock is below the final redemption barrier level (80% of initial price) at maturity and the securities haven't been previously redeemed, the payment at maturity will be less than the $1,000 principal amount and could be zero if the underlying stock price goes to zero.

What is the early redemption payment schedule for BAC's Jump Securities due 2030?

The securities offer quarterly early redemption payments starting from July 21, 2026, with increasing payments from at least $1,234 (1st payment) to $2,111.50 (16th payment) per $1,000 security. Early redemption occurs if Dow Inc.'s stock price equals or exceeds the call threshold level on any quarterly determination date. The payments represent approximately 23.40% return per annum, with exact amounts to be set on the pricing date of July 9, 2025.

What is the estimated value of BAC's Jump Securities on the pricing date?

The estimated value of the securities on the pricing date (July 9, 2025) is expected to be between $900.00 and $950.00 per $1,000 in principal amount. This means investors are paying a premium above the estimated value, as the issue price is $1,000 per security.

How are payments on BAC's Jump Securities affected by Dow Inc. stock performance?

The securities' payments are directly linked to Dow Inc. stock performance. If the stock price is at or above the call threshold (100% of initial price) on any quarterly determination date, early redemption occurs with a predetermined payment. At maturity, if not called earlier, investors receive at least $2,170 if the stock is above 80% of initial price. If below 80%, payment equals $1,000 multiplied by the share performance factor, potentially resulting in significant losses.