New Issue: Bank of America prices $1.26 million digital return notes tied to S&P 500, the Dow

By Marisa Wong

Morgantown, W.Va., Feb. 23 – Bank of America Corp. priced $1.26 million of 0% digital return notes due March 6, 2017 linked to the lesser performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its threshold value, 70% of its initial level, the payout at maturity will be par plus 5.1%. If either index finishes below its threshold value, investors will be fully exposed to the decline of the lesser-performing index.

BofA Merrill Lynch is the underwriter.

Issuer:	Bank of America Corp.
Issue:	Digital return notes
Underlying indexes:	S&P 500 and Dow Jones industrial average
Amount:	$1,255,000
Maturity:	March 6, 2017
Coupon:	0%
Price:	Par
Payout at maturity:	If final level of each index is greater than or equal to threshold value, par plus 5.1%; if either index finishes below threshold value, full exposure to decline of lesser-performing index
Initial index levels:	1,917.78 for S&P 500 and 16,391.99 for the Dow
Threshold values:	1,342.45 for S&P 500 and 11,474.39 for the Dow; 70% of initial levels
Pricing date:	Feb. 19
Settlement date:	Feb. 26
Underwriter:	BofA Merrill Lynch
Fees:	0.9%
Cusip:	06048WSF8

© 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.