By Angela McDaniels
Tacoma, Wash., April 27 – Bank of America Corp. priced $16.33 million of 0% market-linked step-up notes due April 24, 2020 linked to an equally weighted basket consisting of the Dow Jones industrial average and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final basket level is greater than the step-up value, the payout at maturity will be par of $10 plus the basket return. The step-up value is 128.5% of the initial basket level.
If the final basket level is greater than or equal to the initial level but less than or equal to the step-up value, the payout will be par plus the step-up payment, 28.5%.
Investors will receive par if the basket declines by 15% or less and will lose 1% for every 1% that it declines beyond 15%.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Market-linked step-up notes
|
| Underlying indexes: | Dow Jones industrial average (50% weight) and Euro Stoxx 50 (50% weight)
|
| Amount: | $16,334,390
|
| Maturity: | April 24, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final basket level is greater than 128.5% of initial level, par plus basket return; if final basket level is greater than or equal to initial level but less than or equal to 128.5% of initial level, par plus 28.5%; par if basket declines by 15% or less; 1% loss for every 1% that basket declines beyond 15%
|
| Pricing date: | April 23
|
| Settlement date: | April 30
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2.5%
|
| Cusip: | 06053W318
|
© 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.
