By Susanna Moon
Chicago, Oct. 8 - Bank of America Corp. priced $8.27 million of 0% market-linked step up notes due Sept. 23, 2016 tied to a basket of four equally weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index, the Russell 2000 index, the MSCI EAFE index and the MSCI Emerging Markets index.
If the basket finishes above the step-up level, 119.65% of the initial level, the payout at maturity will be par plus the gain.
If the basket finishes at or above the initial level but up to the step-up level, the payout will be par plus the step-up payment of 19.65%.
Investors will receive par if the basket falls by up to 5% and will be exposed to losses beyond 5%.
BofA Merrill Lynch is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Market-linked step up notes
|
| Underlying basket: | S&P 500 index, the Russell 2000 index, the MSCI EAFE index and the MSCI Emerging Markets index, equally weighted
|
| Amount: | $8,266,350
|
| Maturity: | Sept. 23, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket finishes above step-up level, par plus gain; if basket gains by up to step-up level, par plus 19.65%; par if index falls by up to 5%; exposure to losses beyond 5%
|
| Step-up level: | 119.65% of initial level
|
| Trigger level: | 95% of initial level
|
| Pricing date: | Sept. 26
|
| Settlement date: | Oct. 4
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2.25%
|
| Cusip: | 06053F703
|
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