Published on 6/1/2016 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $15.83 million Capped Leveraged Index Return Notes on Euro Stoxx 50
By Wendy Van Sickle
Columbus, Ohio, June 1 – Bank of America Corp. priced $15.83 million of 0% Capped Leveraged Index Return Notes due May 25, 2018 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index return, capped at 24.9%.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
BofA Merrill Lynch is the agent.
Issuer: | Bank of America Corp.
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Issue: | Capped Leveraged Index Return Notes
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Underlying index: | Euro Stoxx 50
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Amount: | $15.83 million
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Maturity: | May 25, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any index gain, capped at 24.9%; par if index falls by up to 10%; exposure to any losses beyond 10%
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Initial level: | 3,071.21
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Buffer level: | 2,764.09, 90% of initial level
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Pricing date: | May 26
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Settlement date: | June 3
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06053Y835
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