Published on 3/7/2016 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $2.2 million enhanced return notes on 10 stocks
By Marisa Wong
Morgantown, W.Va., March 7 – Bank of America Corp. priced $2.2 million of 0% enhanced return notes with cap due March 1, 2018 linked to a basket of 10 stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The equally weighted basket includes Biogen Inc., BioMarin Pharmaceutical Inc., Caesars Entertainment Corp., D.R. Horton, Inc., Horizon Pharma plc, Las Vegas Sands Corp., Palo Alto Networks, Inc., SVB Financial Group, Vertex Pharmaceuticals Inc. and Wynn Resorts, Ltd.
If the basket return is positive, the payout at maturity will be par plus 300% of the basket return, subject to a maximum return of 48%. If the basket return is negative, investors will be fully exposed to the decline.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
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| Issue: | Enhanced return notes with cap
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| Underlying stocks: | Biogen Inc. (Symbol: BIIB), BioMarin Pharmaceutical Inc. (Symbol: BMRN), Caesars Entertainment Corp. (Symbol: CZR), D.R. Horton, Inc. (Symbol: DHI), Horizon Pharma plc (Symbol: HZNP), Las Vegas Sands Corp. (Symbol: LVS), Palo Alto Networks, Inc. (Symbol: PANW), SVB Financial Group (Symbol: SIVB), Vertex Pharmaceuticals Inc. (Symbol: VRTX) and Wynn Resorts, Ltd. (Symbol: WYNN)
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| Amount: | $2.2 million
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| Maturity: | March 1, 2018
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Payout at maturity: | If the basket return is positive, par plus 300% of the basket return, subject to a maximum return of 48%; if the basket return is negative, investors will be fully exposed to the decline
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| Initial prices: | $264.49 for Biogen, $80.14 for BioMarin, $9.05 for Caesars, $27.17 for D.R. Horton, $19.79 for Horizon, $47.92 for Las Vegas Sands, $147.59 for Palo Alto, $90.17 for SVB, $87.00 for Vertex and $82.17 for Wynn
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| Pricing date: | March 2
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| Settlement date: | March 7
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| Agent: | BofA Merrill Lynch
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| Fees: | 2%
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| Cusip: | 06048WSJ0
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