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Bank of America plans market-tied step-up autocallables on Euro Stoxx
By Susanna Moon
Chicago, June 27 – Bank of America Corp. plans to price autocallable market-linked step-up notes due July 2017 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized premium of 10% if the index closes at or above its initial level on either call annual date.
If the index finishes above the step-up value – 126% to 132% of the initial level – the payout at maturity will be par plus the stock 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 26% to 32%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
The notes will price and settle in July.
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