By Toni Weeks
San Luis Obispo, Calif., Aug. 4 – Bank of America Corp. priced $9.41 million of 0% market-linked step-up notes due July 28, 2017 tied to the Stoxx Europe 600 Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the step-up level – 122% of the initial value – the payout at maturity will be par plus the index return.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 22%.
Otherwise, investors will be fully exposed to any losses.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Market-linked step-up notes
|
| Underlying index: | Stoxx Europe 600 Banks
|
| Amount: | $9,411,650
|
| Maturity: | July 28, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index finishes above step-up level, par plus gain; if index gains up to step-up value, par plus 22%; exposure to any losses
|
| Initial level: | 221.59
|
| Step-up level: | 270.34, 122% of initial level
|
| Pricing date: | July 30
|
| Settlement date: | Aug. 6
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06053W581
|
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