Published on 12/22/2015 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $74 million Accelerated Return Notes tied to Euro Stoxx 50
By Marisa Wong
Morgantown, W.Va., Dec. 22 – Bank of America Corp. priced $74 million of 0% Accelerated Return Notes due Feb. 24, 2017 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 300% of the index return, subject to a maximum payout of par plus 18.6%. If the index return is negative, investors will be fully exposed to the decline.
BofA Merrill Lynch is the underwriter.
Issuer: | Bank of America Corp.
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Issue: | Accelerated Return Notes
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Underlying index: | Euro Stoxx 50
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Amount: | $74,000,270
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Maturity: | Feb. 24, 2017
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at 18.6%; exposure to any index decline
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Initial index level: | 3,260.72
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Final index level: | Average of index’s closing levels on five trading days ending Feb. 21, 2017
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Pricing date: | Dec. 18
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Settlement date: | Dec. 28
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Underwriters: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06053Y389
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