By Susanna Moon
Chicago, Oct. 5 – Bank of America Corp. priced $7.24 million of 0% market-linked step-up notes due Sept. 28, 2018 linked to a basket of two indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with an initial weight of 75% and the JPX-Nikkei Index 400 with an initial weight of 25%.
If the basket finishes above the step-up value – 121% of the initial level – the payout at maturity will be par plus the index gain.
If the basket 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 21%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
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| Issue: | Market-linked step-up notes
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| Underlying index: | Euro Stoxx 50 index (75% weight) and JPX-Nikkei Index 400 (25% weight)
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| Amount: | $7,238,260
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| Maturity: | Sept. 28, 2018
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| Coupon: | 0%
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| Price: | Par of $10.00
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| Payout at maturity: | If basket finishes above the step-up value, par plus return; if basket finishes at or below the step-up level but at or above the initial level, par plus 21%; exposure to any losses
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| Initial levels: | 2,991.58 for Stoxx and 12,024.04 for JPX-Nikkei
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| Step-up levels: | 121% of initial levels
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 6
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| Underwriter: | BofA Merrill Lynch
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| Fees: | 2%
|
| Cusip: | 06054B578
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