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Bank of America plans 14-month Accelerated Return Notes tied to stocks
By Susanna Moon
Chicago, May 20 – Bank of America Corp plans to price 0% Accelerated Return Notes due July 2017 linked to a basket of eight equally weighted common stocks, according to an FWP with the Securities and Exchange Commission.
The underlying companies are Anthem, Inc., AT&T Inc., Danaher Corp., McDonald's Corp., PepsiCo, Inc., Pfizer Inc., Philip Morris International Inc. and Qualcomm Inc.
The payout at maturity will be par of $10 plus triple any basket gain, up to a capped return of 12% to 16%. The exact percentage will be set at pricing.
Investors will be exposed to any losses.
Bank of America Merrill Lynch is the agent.
The notes will price in May and settle in June.
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