Published on 8/1/2016 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $5.45 million Leveraged Index Return Notes on index basket
By Marisa Wong
Morgantown, W.Va., Aug. 1 – Bank of America Corp. priced $5.45 million of 0% Leveraged Index Return Notes due July 27, 2018 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
If the basket return is positive, the payout at maturity will be par of $10 plus 147% of the basket gain. If the basket return is negative, investors will be fully exposed to the decline.
BofA Merrill Lynch is the agent.
Issuer: | Bank of America Corp.
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Issue: | Leveraged Index Return Notes
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Underlying basket: | Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight
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Amount: | $5,449,010
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Maturity: | July 27, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the basket return is positive, par plus 147% of the basket gain; investors will be fully exposed to any basket decline
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Initial levels: | 2,966.10 for Euro Stoxx, 6,721.06 for FTSE, 16,476.84 for Nikkei, 8,095.07 for Swiss Market, 5,556.56 for S&P/ASX, 22,174.34 for Hang Seng
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Pricing date: | July 28
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Settlement date: | Aug. 4
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06054B388
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