Published on 10/28/2013 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $13.93 million Accelerated Return Notes on Euro Stoxx, Topix
By Marisa Wong
Madison, Wis., Oct. 28 - Bank of America Corp. priced $13.93 million of 0% Accelerated Return Notes due Oct. 30, 2015 linked to a basket that includes the Euro Stoxx 50 index with a 75% weight and the Topix index with a 25% weight, according to a 424B2 filing with the Securities and Exchange Commission.
If the basket return is positive, the payout at maturity will be par of $10 plus 300% of the basket return, subject to a maximum return of 31.5%. If the basket return is negative, investors will have 1-to-1 exposure to the decline.
BofA Merrill Lynch is the agent.
Issuer: | Bank of America Corp.
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Issue: | Accelerated Return Notes
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Underlying indexes: | Euro Stoxx 50 (75% weight), Topix (25% weight)
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Amount: | $13,934,920
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Maturity: | Oct. 30, 2015
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of basket return, return capped at 31.5%; if basket return is negative, 1-to-1 exposure to decline
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Initial levels: | 3,038.96 for Euro Stoxx, 1,203.35 for Topix
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Pricing date: | Oct. 24
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Settlement date: | Oct. 31
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Underwriter: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06053G149
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