Published on 10/20/2015 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $10 million Mitts linked to the Dow
By Marisa Wong
Morgantown, W.Va., Oct. 20 – Bank of America Corp. priced $10 million of 0% Market Index Target-Term Securities due Oct. 28, 2022 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus any index gain, capped at 75.1%. Investors will receive par if the index declines.
BofA Merrill Lynch is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Market Index Target-Term Securities
|
| Underlying index: | Dow Jones industrial average
|
| Amount: | $10 million
|
| Maturity: | Oct. 28, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus any index gain, capped at 75.1%; par if index declines
|
| Initial level: | 17,215.97
|
| Pricing date: | Oct. 16
|
| Settlement date: | Oct. 23
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06053W888
|
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