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Bank of America plans Market Index Target-Term Securities on Dow industrials, Stoxx 50
By Tali Rackner
Norfolk, Va., Sept. 8 – Bank of America plans to price 0% Market Index Target-Term Securities due September 2022 linked to a global equity basket comprised of the Dow Jones industrial average and the Euro Stoxx 50 index, 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 the basket return, subject to a maximum of 80% to 90%. The exact cap will be set at pricing.
If the basket is flat or negative, the payout will be par.
Merrill Lynch & Co. is the agent.
The notes will price in September and settle in October.
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