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Bank of America plans capped Leveraged Index Return Notes on S&P 500
By Marisa Wong
Morgantown, W.Va., Aug. 26 – Bank of America Corp. plans to price 0% capped Leveraged Index Return Notes due September 2018 linked to the S&P 500 index, according to an FWP 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 that is expected to be 12% to 16% and will be set at pricing. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it may decline beyond 10%.
BofA Merrill Lynch is the underwriter.
The notes will price in September and settle in October.
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