Published on 5/29/2018 in the Prospect News Structured Products Daily.
New Issue: SunTrust sells $12.78 million Index Return Notes linked to Dow Jones
By Sarah Lizee
Olympia, Wash., May 29 – SunTrust Banks, Inc. price 0% $12.78 million of Leveraged Index Return Notes due May 26, 2023 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 113.1% of any index gain.
Investors will receive par if the index falls by up to 20% and will be exposed to any losses beyond 20%.
BofA Merrill Lynch is the agent.
| Issuer: | SunTrust Banks, Inc.
|
| Issue: | Leveraged Index Return Notes
|
| Underlier: | Dow Jones industrial average
|
| Amount: | $12,776,300
|
| Maturity: | May 26, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 113.1% | of any index gain; par if index falls by up to 20% and exposure to declines in the index beyond 20%
|
| Initial level: | 24,811.76
|
| Threshold level: | 19,849.41, 80% of the initial level
|
| Pricing date: | May 24
|
| Settlement date: | June 1
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2.5%
|
| Cusip: | 867914848
|
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