By Angela McDaniels
Tacoma, Wash., Jan. 10 - Bank of America Corp. priced $5.22 million of 0% market-linked step-up notes due Jan. 25, 2016 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the S&P 500 index with a 40% weight, the MSCI EAFE index with a 30% weight and the Euro Stoxx 50 index with a 30% weight.
If the basket finishes above the step-up level, 115.03% of the initial basket level, the payout at maturity will be par of $10 plus the basket return.
If the basket return is zero or positive but the basket finishes at or below the step-up level, the payout will be par plus 15.03%.
If the basket return is negative, investors will have 1-to-1 exposure to the decline.
BofA Merrill Lynch is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Market-linked step-up notes
|
| Underlying indexes: | S&P 500 index (40% weight), MSCI EAFE index (30% weight) and Euro Stoxx 50 (30% weight)
|
| Amount: | $5,215,000
|
| Maturity: | Jan. 25, 2016
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If basket finishes above step-up level, par plus basket return; if basket is flat or increases up to step-up level, par plus 15.03%; full exposure to any basket decline
|
| Initial index levels: | 1,837.49 for S&P 500; 1,903.06 for MSCI EAFE; 3,110.66 for Euro Stoxx 50
|
| Step-up level: | 115.03% of initial basket level
|
| Pricing date: | Jan. 8
|
| Settlement date: | Jan. 10
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06053G636
|
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