New Issue: Bank of America prices $2.81 million absolute return notes linked to Dow

By Angela McDaniels

Tacoma, Wash., March 24 – Bank of America Corp. priced $2.81 million of 0% absolute return notes due March 29, 2021 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is zero or positive, the payout at maturity will be par plus 130% of the index return.

If the index return is negative but the final index level is greater than or equal to 70% of the initial index level, the payout will be par plus the absolute value of the index return.

If the final index level is less than 70% of the initial index level, investors will be fully exposed to the index’s decline from its initial level.

BofA Merrill Lynch is the agent.

Issuer:	Bank of America Corp.
Issue:	Absolute return notes
Amount:	$2,814,000
Maturity:	March 29, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is zero or positive, par plus 130% of index return; if index return is negative but index finishes at or above barrier level, par plus absolute value of index return; if final index level is less than barrier level, full exposure to index’s decline from initial level
Initial index level:	18,127.65
Barrier level:	12,689.36, 70% of initial level
Pricing date:	March 20
Settlement date:	March 27
Agent:	BofA Merrill Lynch
Fees:	3.25%
Cusip:	06048WQP8

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.