Bank of America plans market-linked step-up notes on Euro Stoxx 50

By Susanna Moon

Chicago, June 26 – Bank of America Corp. plans to price 0% market-linked step-up notes due July 2017 tied to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above the step-up level – 114% to 120% of the initial value – the payout at maturity will be par plus the index return.

If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 14% to 20%.

Otherwise, investors will be fully exposed to any losses.

BofA Merrill Lynch is the underwriter.

The notes will price in July and settle in August.

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