Bank of America plans market-linked step-up notes tied to MSCI EAFE

By Susanna Moon

Chicago, Jan. 4 - Bank of America Corp. plans to price market-linked step-up notes due February 2016 linked to the MSCI EAFE index, according to an FWP with the Securities and Exchange Commission.

If the index finishes at or above the step-up value - 125% to 131% of the initial level - the payout at maturity will be par of $10.00 plus any index gain.

If the index finishes below the step-up level but at or above the initial level, the payout will be par plus the step-up payment of $2.50 to $3.10 per note.

Investors will be fully exposed to any losses.

Bank of America Merrill Lynch is the agent.

The notes will price and settle in January.

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