Published on 11/2/2016 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $14.02 million Capped Leveraged Index Return Notes on Russell
By Wendy Van Sickle
Columbus, Ohio, Nov. 2 – Bank of America Corp. priced $14.02 million of 0% Capped Leveraged Index Return Notes due Dec. 22, 2017 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index return, capped at 11.42%.
Investors will receive par if the index falls by up to 5% and will lose 1% for every 1% decline beyond 5%.
BofA Merrill Lynch is the agent.
Issuer: | Bank of America Corp.
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Issue: | Capped Leveraged Index Return Notes
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Underlying index: | Russell 2000 index
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Amount: | $14,023,460
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Maturity: | Dec. 22, 2017
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any index gain, capped at 11.42%; par if index falls by up to 5%; exposure to any losses beyond 5%
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Initial level: | 1,189.947
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Threshold level: | 1,130.45, 95% of initial level
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Pricing date: | Oct. 27
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Settlement date: | Nov. 3
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06054B602
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