Published on 1/8/2016 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $8.15 million Accelerated Return Notes linked to indexes
By Angela McDaniels
Tacoma, Wash., Jan. 8 – Bank of America Corp. priced $8.15 million of 0% Accelerated Return Notes due March 31, 2017 linked to an international equity index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket is composed of the S&P 100 index with a 70% weight, the Euro Stoxx 50 index with a 20% weight and the Nikkei Stock Average index with a 10% weight.
The payout at maturity will be par of $10 plus triple any basket gain, up to a maximum return of 13.83%. Investors will be exposed to any basket decline.
BofA Merrill Lynch is the underwriter.
Issuer: | Bank of America Corp.
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Issue: | Accelerated Return Notes
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Underlying indexes: | S&P 100 (70% weight), Euro Stoxx 50 (20% weight) and Nikkei Stock Average (10% weight)
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Amount: | $8,148,450
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Maturity: | March 31, 2017
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any basket gain, subject to 13.83% maximum return; exposure to any basket decline
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Initial index levels: | 886.78 for S&P 100, 3,139.32 for Euro Stoxx 50 and 18,191.32 for Nikkei Stock Average
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Pricing date: | Jan. 6
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Settlement date: | Jan. 13
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Underwriters: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06053Y439
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