By Marisa Wong
Madison, Wis., Oct. 1 - Bank of America Corp. priced $12.34 million of 0% market-linked step-up notes due Sept. 25, 2015 linked to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the step-up value - 143.05% of the initial level - the payout at maturity will be par plus the index return.
If the final index level is greater than or equal to the initial level but not greater than the step-up value, the payout will be par plus a step-up payment of 43.05%.
Investors will be fully exposed to any index decline.
Bank of America Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Market-linked step-up notes
|
| Underlying index: | MSCI EAFE
|
| Amount: | $12,343,560
|
| Maturity: | Sept. 25, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than step-up value, par plus index return; if final index level is greater than or equal to initial level but not more than step-up value, par plus 43.05%; full exposure to losses
|
| Initial level: | 1,526.25
|
| Step-up value: | 2,183.30 (143.05% of initial value)
|
| Pricing date: | Sept. 27
|
| Settlement date: | Oct. 4
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | 2.25%
|
| Cusip: | 06053D435
|
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