By Angela McDaniels
Tacoma, Wash., Aug. 1 – Bank of America Corp. priced $12.29 million of 0% market-linked step-up notes due July 27, 2018 linked to the Dow Jones U.S. Real Estate index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the step-up value, the payout at maturity will be par of $10 plus the index return. The step-up value is 122.01% of the initial index level.
If the final index level is greater than or equal to the initial level but less than or equal to the step-up value, the payout will be par plus the step-up payment, 22.01%.
If the final index level is less than the initial level, investors will have one-to-one exposure to the decline.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Market-linked step-up notes
|
| Underlying index: | Dow Jones U.S. Real Estate index
|
| Amount: | $12,290,120
|
| Maturity: | July 27, 2018
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final index level is greater than step-up value, par plus index return; if final index level is greater than or equal to initial level but less than or equal to step-up value, par plus 22.01%; if final index level is less than initial level, exposure to decline
|
| Initial index level: | 333.26
|
| Step-up value: | 406.61, 122.01% of initial level
|
| Pricing date: | July 28
|
| Settlement date: | Aug. 4
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06054B339
|
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