Published on 9/3/2014 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $20.77 million Accelerated Return Notes linked to three stocks
By Susanna Moon
Chicago, Sept. 3 – Bank of America Corp. priced $20.77 million of 0% Accelerated Return Notes due Oct. 23, 2015 tied to an equally weighted basket of three stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are BP plc, Exxon Mobil Corp. and Occidental Petroleum Corp.
The payout at maturity will be par plus triple any basket gain, up to a maximum return of 13.77%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the underwriter.
Issuer: | Bank of America Corp.
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Issue: | Accelerated Return Notes
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Underlying basket: | BP plc, Exxon Mobil Corp. and Occidental Petroleum Corp., equally weighted
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Amount: | $20,769,060
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Maturity: | Oct. 23, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 300% of any basket gain, capped at 13.77%; exposure to any losses
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Pricing date: | Aug. 28
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Settlement date: | Sept. 5
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Underwriters: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06053M468
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