Bank of America to price capped leveraged notes linked to S&P 500

By Jennifer Chiou

New York, July 29 - Bank of America Corp. plans to price 0% Capped Leveraged Index Return Notes due August 2013 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 200% of any increase in the index, subject to a maximum return of 16% to 20% that will be set at pricing. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

The notes will price and settle in September.

Bank of America Merrill Lynch is the agent.

© 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.