Published on 2/29/2016 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $15.82 million leveraged notes linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., Feb. 29 –Bank of America Corp. priced $15.82 million of 0% Capped Leveraged Index Return Notes due Feb. 23, 2018 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 200% of the index return, subject to a maximum return of 27.4%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
BofA Merrill Lynch is the agent.
Issuer: | Bank of America Corp.
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Issue: | Capped Leveraged Index Return Notes
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Underlying index: | Euro Stoxx 50
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Amount: | $15,815,440
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Maturity: | Feb. 23, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus 200% of index return; par if index declines by 10% or less; 1% loss for every 1% that index declines beyond 10%
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Initial index level: | 2,877.42
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Threshold value: | 2,589.68, 90% of initial level
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Final index level: | Average of index’s closing levels on five trading days ending Feb. 20, 2018
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Pricing date: | Feb. 25
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Settlement date: | March 3
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Underwriter: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06053Y546
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