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Published on 6/2/2016 in the Prospect News Structured Products Daily.

New Issue: Bank of America sells $16.4 million 6.5% coupon notes tied to Microsoft

By Susanna Moon

Chicago, June 2 – Bank of America Corp. priced $16.44 million of 6.5% coupon bearing notes due June 16, 2017 linked to Microsoft Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The payout at maturity will be par of $10 unless Microsoft shares fall by more than 5%, in which case investors will be exposed to losses beyond 5%.

Bank of America Merrill Lynch is the agent.

Issuer:Bank of America Corp.
Issue:Coupon bearing notes
Underlying stock:Microsoft Corp. (Symbol: MSFT)
Amount:$16,444,640
Maturity:June 16, 2017
Coupon:6.5%, payable quarterly
Price:Par of $10
Payout at maturity:Par unless Microsoft shares fall by more than 5%, in which case exposure to losses beyond 5%
Initial price:$51.73
Pricing date:May 26
Settlement date:June 3
Agent:Bank of America Merrill Lynch
Fees:1.75%
Cusip:06054B149

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