Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Euro Stoxx 50 index > News item |
Bank of America to price market-linked step-up notes on Euro Stoxx 50
By Toni Weeks
San Luis Obispo, Calif., Jan. 17 - Bank of America Corp. plans to price 0% market-linked step-up notes due January 2016 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes above the step-up value - 116% to 120% of the initial level - the payout at maturity will be par of $10 plus the index return.
If the index finishes at or above the initial level but is less than or equal to the step-up value, the payout at maturity will be par of $10 plus the step-up payment of 16% to 20%.
Investors will be fully exposed to losses if the index return is negative.
The exact terms will be set at pricing.
The notes are expected to price in January and settle in February.
BofA Merrill Lynch is the agent.
© 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.