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Bank of America plans market-linked step-up notes on Euro Stoxx 50
By Susanna Moon
Chicago, Oct. 1 - Bank of America Corp. plans to price market-linked step-up notes due October 2014 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above the step-up value - 120% to 126% of the initial level - the payout at maturity will be par of $10.00 plus the index gain.
If the index finishes at or above the initial level but at or below the step-up value, the payout will be par plus the step-up payment of 20% to 26%.
Investors will receive par if the index falls by up to 5% and will be exposed to any losses beyond 5%.
Bank of America Merrill Lynch will be the agent.
The notes will price and settle in October.
The exact deal terms will be set at pricing.
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