By Susanna Moon
Chicago, Jan. 22 - Bank of America Corp. priced $7.78 million of 0% market-linked step up notes due Jan. 25, 2016 tied to a basket of two indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 70% weight and the MSCI Emerging Markets index with a 30% weight.
If the basket finishes above the step-up level, 118.2% of the initial level, the payout at maturity will be par plus the gain.
If the basket finishes at or above the initial level but up to the step-up level, the payout will be par plus the step-up payment of 18.2%.
Otherwise, investors will be fully exposed to any losses.
BofA Merrill Lynch is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Market-linked step up notes
|
| Underlying indexes: | Euro Stoxx 50 (70% weight) and MSCI Emerging Markets (30% weight)
|
| Amount: | $7,784,640
|
| Maturity: | Jan. 25, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket finishes above step-up level, par plus the return; if basket gains by up to step-up level, par plus 18.2%; otherwise, exposure to any losses
|
| Step level: | 118% of initial level
|
| Pricing date: | Jan. 17
|
| Settlement date: | Jan. 27
|
| Underwriters: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06053G644
|
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