Bank of America plans Market Index Target-Term Securities on Dow Jones

By Tali Rackner

Norfolk, Va., Aug. 3 – Bank of America plans to price 0% Market Index Target-Term Securities due August 2022 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par of $10 plus the index return, subject to a maximum of 55% to 65%. The exact cap will be set at pricing.

If the index is flat or negative, the payout will be par.

Merrill Lynch & Co. is the agent.

The notes will price in August and settle in September.

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