Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Euro Stoxx 50 index > News item |
Bank of America plans step-up notes linked to Euro Stoxx, JPX-Nikkei
By Angela McDaniels
Tacoma, Wash., Sept. 16 – Bank of America Corp. plans to price 0% market-linked step-up notes due September 2018 linked to a basket composed of the Euro Stoxx 50 index with a 75% weight and the JPX-Nikkei Index 400 with a 25% weight, according to a 424B2 filing with the Securities and Exchange Commission.
If the final basket level is greater than the step-up value, the payout at maturity will be par of $10 plus the basket return. The step-up value is expected to be 118% to 124% of the initial basket level.
If the final basket level is greater than or equal to the initial level but less than or equal to the step-up value, the payout will be par plus the step-up payment, which is expected to be 18% to 24%.
If the final basket level is less than the initial level, investors will have one-to-one exposure to the decline.
The exact step-up value and step-up payment will be set at pricing.
BofA Merrill Lynch is the agent.
The notes are expected to price in September and settle in October.
© 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.