Published on 3/28/2016 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $4.04 million market-linked step-up notes tied to Euro Stoxx
New York, March 28 – Bank of America Corp. priced $4.04 million of 0% market-linked step-up notes due March 23, 2018 linked 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 of 125.9% of the initial level, the payout at maturity will be par plus the index gain.
If the index finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 25.9%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the underwriter.
Issuer: | Bank of America Corp.
|
Issue: | Market-linked step-up notes
|
Underlying index: | Euro Stoxx 50
|
Amount: | $4,038,520
|
Maturity: | March 23, 2018
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | If the index finishes above the step-up level of 125.9% of the initial level, par plus the index gain; if index finishes at or below the step-up level but at or above the initial level, par plus 25.9%; full exposure to any losses
|
Initial level: | 3,042.42
|
Step-up level: | 3,830.41, 125.9% of initial level
|
Pricing date: | March 23
|
Settlement date: | March 31
|
Underwriter: | BofA Merrill Lynch
|
Fees: | 2%
|
Cusip: | 06053Y587
|
|
|
© 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.