Published on 7/27/2015 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $3.7 million 10.8% autocallable yield notes linked to WisdomTree
By Toni Weeks
San Luis Obispo, Calif., July 27 – Bank of America Corp. priced $3.7 million of 10.8% autocallable yield notes due July 28, 2017 linked to the common stock of WisdomTree Investments, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
Beginning Oct. 23, the notes will be automatically called at par plus the coupon if the stock price closes at or above the initial price on any quarterly call observation date.
The payout at maturity will be par unless the stock finishes below the 70% downside threshold level, in which case the payout will be par plus the stock return.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Autocallable yield notes
|
| Underlying stock: | WisdomTree Investments, Inc. (Symbol: WETF)
|
| Amount: | $3,695,000
|
| Maturity: | July 28, 2017
|
| Coupon: | 10.8%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below 70% downside threshold, in which case par plus stock return, with full exposure to losses
|
| Call: | At par if stock closes at or above initial share price on any quarterly call date beginning Oct. 23
|
| Initial price: | $23.50
|
| Downside threshold: | $16.45, 70% of initial level
|
| Pricing date: | July 23
|
| Settlement date: | July 30
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2.5%
|
| Cusip: | 06048WRF9
|
© 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.
