New Issue: Bank of America prices $14.71 million market-linked step-up notes tied to S&P 500

By Wendy Van Sickle

Columbus, Ohio, Oct. 31 – Bank of America Corp. priced $14.71 million of 0% market-linked step-up notes due Oct. 26, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above the step-up value – 113.81% of the initial level – the payout at maturity will be par plus the index gain.

If the index finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 13.81%.

Investors will be exposed to any losses.

BofA Merrill Lynch is the agent.

Issuer:	Bank of America Corp.
Issue:	Market-linked step-up notes
Underlying index:	S&P 500
Amount:	$14,713,450
Maturity:	Oct. 26, 2018
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	If the index finishes above the step-up value, par plus the index gain; if the index finishes at or below the step-up level but at or above the initial level, par plus 13.81%; exposure to any losses
Initial level:	2,133.04
Step-up value:	2,427.61, 113.81% of initial level
Pricing date:	Oct. 27
Settlement date:	Nov. 3
Underwriter:	BofA Merrill Lynch
Fees:	2%
Cusip:	06054B669

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