Published on 6/2/2016 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $49.59 million Accelerated Return Notes linked to Euro Stoxx
By Marisa Wong
Morgantown, W.Va., June 2 – Bank of America Corp. priced $49.59 million of 0% Accelerated Return Notes due July 28, 2017 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 of $10 plus triple any index gain, up to a maximum return of 20.88%. Investors will be exposed to any index 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 index: | Euro Stoxx 50
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Amount: | $49,591,380
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Maturity: | July 28, 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 index gain, capped at 20.88%; exposure to any index decline
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Initial level: | 3,071.21
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Final index level: | Average of index’s closing levels on five trading days ending July 25, 2017
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Pricing date: | May 26
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Settlement date: | June 3
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Underwriters: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06053Y868
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