New Issue: BofA prices $12.57 million market-linked step-up notes on Euro Stoxx 50

By Jennifer Chiou

New York, May 1 - Bank of America Corp. priced $12,568,740 of market-linked step-up notes due April 24, 2015 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above the step-up value - 120.5% of the initial level - the payout at maturity will be par plus the index gain.

If the index finishes below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 20.5%.

Investors will receive par for losses up to 5% and will be exposed to any losses beyond the buffer.

BofA Merrill Lynch is the agent.

Issuer:	Bank of America Corp.
Issue:	Market-linked step-up notes
Underlying index:	Euro Stoxx 50
Amount:	$12,568,740
Maturity:	April 24, 2015
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index finishes above step-up value, par plus return; if index finishes below step-up level but at or above initial level, par plus 20.5%; par for losses up to 5% and exposure to any losses beyond the buffer
Initial level:	2,704.41
Step-up value:	3,258.81, 120.5% of initial value
Pricing date:	April 25
Settlement date:	May 2
Agent:	BofA Merrill Lynch
Fees:	2%
Cusip:	06053E664

© 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.