Bank of America to price Mitts linked to Dow Jones industrial average

By Angela McDaniels

Tacoma, Wash., Oct. 11 - Bank of America Corp. plans to price 0% Market Index Target-Term Securities due October 2017 linked to the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.

If the final level of the index is greater than the initial index level, the payout at maturity will be par of $10 plus 110% to 120% of the index return. The exact participation rate will be set at pricing. If the final index level is less than the initial index level, the payout will be par.

The notes are expected to price in October and settle in November.

Bank of America Merrill Lynch is the underwriter.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.