By Jennifer Chiou
New York, Dec. 27 - Bank of America Corp. priced $106,249,610 of autocallable market-linked step-up notes due Jan. 3, 2017 tied to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called if the index closes at or above the initial index level on either of two observation dates. The call amount is $11.20 per $10.00 principal amount if the notes are called on Dec. 29, 2014 and $12.40 if they are called on Dec. 18, 2015.
If the notes and not called and the final index level is greater than the step-up value, 130% of the initial level, then the payout at maturity will be par plus the index return.
If the final index level is greater than or equal to the initial level but less than or equal to the step-up value, then the payout will be par plus 30%.
Investors will be fully exposed to losses.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $106,249,610
|
| Maturity: | Jan. 3, 2017
|
| 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 30%; if final index level is less than initial index level, full exposure to index decline
|
| Call: | Automatically at par plus 12% per year if index closes at or above initial level on Dec. 29, 2014 or Dec. 18, 2015
|
| Initial index level: | 3,070.91
|
| Step-up value: | 130% of initial value
|
| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 31
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06053G404
|
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