Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for Bank of America Corp. > News item |
Bank of America plans market-tied step-up autocallables on energy fund
By Susanna Moon
Chicago, Oct. 20 – Bank of America Corp. plans to price 0% autocallable market-linked step-up notes due October 2018 linked to the Energy Select Sector index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at an annual call premium of 13% to 14% if the fund closes at or above its initial level on the observation date in November 2017. The exact call premium will be set at pricing.
If the fund finishes above the step-up value – 130% of the initial level – the payout at maturity will be par of $10 plus the gain.
If the fund gains by up to the step-up level, the payout will be par plus the step-up payment of 30%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
The notes will price in October and settle in November.
© 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.