Bank of America plans to price step-up notes linked to Euro Stoxx 50

By Angela McDaniels

Tacoma, Wash., Aug. 1 – Bank of America Corp. plans to price 0% market-linked step-up notes due August 2018 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the step-up value, the payout at maturity will be par of $10 plus the index return. The step-up value is expected to be 122% to 128% of the initial index level.

If the final index level is greater than or equal to the initial level but less than or equal to the step-up value, the payout will be par plus the step-up payment, which is expected to be 22% to 28%.

If the final index level is less than the initial level, investors will have one-to-one exposure to the decline.

The exact step-up value and step-up payment will be set at pricing.

BofA Merrill Lynch is the agent.

The notes will in August and settle in September.

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