New Issue: Bank of America prices $2.85 million coupon-bearing notes linked to Turkish lira

By Angela McDaniels

Tacoma, Wash., June 27 - Bank of America Corp. priced $2.85 million of 0% currency-linked coupon-bearing notes due June 30, 2016 linked to the Turkish lira/dollar exchange rate, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable annually. If the value of the lira has decreased relative to the dollar, the coupon will be 1%. If it has increased or remained the same, the coupon will be 8.7%.

The payout at maturity will be par of $10.

Bank of America Merrill Lynch is the underwriter.

Issuer:	Bank of America Corp.
Issue:	Currency-linked coupon-bearing notes
Underlying currency:	Turkish lira relative to dollar
Amount:	$2,851,300
Maturity:	June 30, 2016
Coupon:	If value of lira has decreased relative to dollar, 1%; if value of lira has increased or remained the same, 8.7%; payable annually
Price:	Par of $10
Payout at maturity:	Par
Initial exchange rate:	1.63505 lira per dollar
Pricing date:	June 23
Settlement date:	July 6
Underwriter:	Bank of America Merrill Lynch
Fees:	2.5%
Cusip:	06050R866

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.