Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for Hang Seng China Enterprises index > News item |
BofA plans autocallable market-linked step-up notes on Hang Seng China
By Marisa Wong
Madison, Wis., Sept. 5 – Bank of America Corp. plans to price autocallable market-linked step-up notes due July 2016 linked to the Hang Seng China Enterprises index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus a call premium of 12% if the index closes at or above the initial level in October 2015.
If the index finishes at or above the step-up value – 130% to 136% of the initial level – the payout at maturity will be par plus the index gain.
If the index finishes below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 30% to 36%.
Investors will be fully exposed to any losses.
The exact deal terms will be set at pricing.
BofA Merrill Lynch is the agent.
The notes will 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.