Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for Bank of America Corp. > News item |
Bank of America plans market-linked step-up notes on three indexes
By Toni Weeks
San Diego, June 30 - Bank of America Corp. plans to price 0% market-linked step-up notes due July 2015 linked to a basket of three indexes, according to an FWP filing with the Securities and Exchange Commission.
The basket is comprised of the S&P 500 index with a 45% weight, the MSCI EAFE index with a 27.5% weight and the MSCI Emerging Markets index with a 27.5% weight.
If the basket finishes above the step-up value -122% to 128% of the initial level - the payout at maturity will be par of $10 plus the basket return.
If the basket finishes at or above the initial level but below the step-up value, the payout will be par of $10 plus the step-up payment of 22% to 28%. The exact step-up value will be set at pricing.
Investors will receive par if the basket declines by up to 15% and will be exposed to any losses beyond 15%.
The notes are expected to price in July and settle in August.
Bank of America Merrill Lynch is the underwriter.
© 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.