Published on 10/25/2016 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $4.52 million Accelerated Return Notes linked to precious metals index
By Angela McDaniels
Tacoma, Wash., Oct. 25 – Bank of America Corp. priced $4.52 million of 0% Accelerated Return Notes due Dec. 22, 2017 linked to the Bloomberg Precious Metals subindex, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, up to a maximum return of 15.15%. Investors will be exposed to any index decline.
BofA Merrill Lynch is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Accelerated Return Notes
|
| Underlying index: | Bloomberg Precious Metals subindex
|
| Amount: | $4,519,590
|
| Maturity: | Dec. 22, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 300% of any index gain, capped at 15.15%; exposure to any index decline
|
| Initial index level: | 174.6928
|
| Pricing date: | Oct. 21
|
| Settlement date: | Oct. 28
|
| Underwriters: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06054B685
|
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