Published on 7/11/2016 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $5.03 million Accelerated Return Notes linked to gold
By Angela McDaniels
Tacoma, Wash., July 11 – Bank of America Corp. priced $5.03 million of 0% Accelerated Return Notes due Sept. 5, 2017 linked to the front-month gold futures contract traded on the Comex, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any increase in the price of gold, up to a maximum return of 12.75%. Investors will be exposed to any decline in the price of gold.
BofA Merrill Lynch is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Accelerated Return Notes
|
| Underlying commodity: | Gold
|
| Amount: | $5,033,960
|
| Maturity: | Sept. 5, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 300% of any increase in gold price, capped at 12.75%; exposure to any decline in gold price
|
| Initial gold price: | $1,362.10
|
| Pricing date: | July 7
|
| Settlement date: | July 13
|
| Underwriters: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06054B248
|
© 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.
