Published on 8/2/2016 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $59.51 million Accelerated Return Notes tied to Stoxx 50
By Susanna Moon
Chicago, Aug. 2 – Bank of America Corp. priced $59.51 million of 0% Accelerated Return Notes due Sept. 29, 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 19.75%.
Investors will be exposed to any losses.
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: | $59,513,991.25
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Maturity: | Sept. 29, 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 19.75%; exposure to any index decline
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Initial level: | 2,966.10
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Pricing date: | July 28
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Settlement date: | Aug. 4
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Underwriters: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06054B305
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