Bank of America plans 18-month bear Stars linked to Russell 2000

By Susanna Moon

Chicago, Oct. 13 – Bank of America Corp. plans to price 0% bear Strategic Accelerated Redemption Securities due April 2018 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will be called at a premium of 8.5% to 12.5% if the index closes at or below its initial level on any semiannual call date.

The payout will be par unless the index finishes above its initial level, in which case investors will be exposed to any gains.

BofA Merrill Lynch is the underwriter.

The notes will price in October and settle in November.

The exact deal terms will be set at pricing.

© 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.