Bank of America plans 8%-10% autocallable linked to Under Armour

By Angela McDaniels

Tacoma, Wash., June 3 – Bank of America Corp. plans to price 8% to 10% autocallable coupon-bearing notes due June 2016 linked to the common stock of Under Armour, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable quarterly. The exact interest rate will be at pricing.

The notes will be automatically called at par if Under Armour stock closes at or above the call level, 100% of the initial share price, on either observation date, which will fall sometime in December 2015 and March 2016.

If the notes are not called and the final share price is greater than or equal to the initial share price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the index’s decline.

BofA Merrill Lynch is the agent.

The notes will price and settle in June.

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