New Issue: Bank of America prices $17.92 million 6.87% notes linked to Citigroup

By Angela McDaniels

Tacoma, Wash., Aug. 29 – Bank of America Corp. priced $17.92 million of 6.87% coupon-bearing notes due Sept. 15, 2017 linked to the common stock of Citigroup Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

If the final share price is greater than or equal to the threshold value, 95% of the initial share price, the payout at maturity will be par of $10. Otherwise, investors will lose 1% for every 1% that the share price declines beyond 5%.

BofA Merrill Lynch is the agent.

Issuer:	Bank of America Corp.
Issue:	Coupon-bearing notes
Underlying stock:	Citigroup Inc. (NYSE: C)
Amount:	$17,918,400
Maturity:	Sept. 15, 2017
Coupon:	6.87%, payable quarterly
Price:	Par of $10.00
Payout at maturity:	If final share price is greater than or equal to threshold value, par; otherwise, 1% loss for every 1% that share price declines beyond 5%
Initial share price:	$46.64 (volume-weighted average price on pricing date)
Threshold value:	$44.31, 95% of initial share price
Pricing date:	Aug. 25
Settlement date:	Sept. 1
Agent:	BofA Merrill Lynch
Fees:	1.75%
Cusip:	06054B487

© 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.