By Susanna Moon
Chicago, Oct. 28 - Bank of America Corp. priced $29.29 million of 0% market-linked step-up notes due Oct. 26, 2018 tied to a basket of two indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the MSCI EAFE index with a weight of 80% and the MSCI Emerging Markets index with a weight of 20%.
If the basket finishes above the step-up level, 114.9% 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 14.9%.
Investors will receive par if the basket falls by up to 25% and will be exposed to losses beyond 25%.
BofA Merrill Lynch is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Market-linked step-up notes
|
| Underlying basket: | MSCI EAFE index (80% weight) and the MSCI Emerging Markets index (20% weight).
|
| Amount: | $29,290,920
|
| Maturity: | Oct. 26, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket finishes above step-up level, par plus gain; if basket finishes at or above initial level but up to the step-up level, par plus 14.9%; par if basket falls by up to 25%; exposure to losses beyond 25%
|
| Pricing date: | Oct. 24
|
| Settlement date: | Oct. 31
|
| Underwriters: | Merrill Lynch & Co.
|
| Fees: | 2.5%
|
| Cusip: | 06053G123
|
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