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

By Marisa Wong

Morgantown, W.Va., Sept. 2 – Bank of America Corp. plans to price market-linked step-up notes due September 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 – 116% to 122% 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 16% to 22%.

Otherwise, investors will be fully exposed to any losses.

BofA Merrill Lynch is the agent.

The notes will price in September and settle in October.

© 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.