New Issue: Bank of America prices $10.69 million Accelerated Return Notes linked to defense stocks

By Angela McDaniels

Tacoma, Wash., Sept. 19 – Bank of America Corp. priced $10.69 million of 0% Accelerated Return Notes due Nov. 24, 2017 linked to a basket of defense stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of General Dynamics Corp. with a 33.33% weight, Lockheed Martin Corp. with a 33.34% weight and Raytheon Co. with a 33.33% weight.

The payout at maturity will be par of $10 plus 300% of any basket gain, subject to a maximum return of 13.85%. Investors will be exposed to any basket decline.

BofA Merrill Lynch is the agent.

Issuer:	Bank of America Corp.
Issue:	Accelerated Return Notes
Underlying stocks:	General Dynamics Corp. (33.33% weight; NYSE: GD), Lockheed Martin Corp. (33.34% weight; NYSE: LMT) and Raytheon Co. (33.33% weight; NYSE: RTN)
Amount:	$10,692,040
Maturity:	Nov. 24, 2017
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any basket gain, capped at 13.85%; exposure to any basket decline
Initial share prices:	$152.16 for General Dynamics, $239.09 for Lockheed Martin and $137.71 for Raytheon
Pricing date:	Sept. 15
Settlement date:	Sept. 22
Underwriters:	BofA Merrill Lynch
Fees:	2%
Cusip:	06054B503

© 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.