Published on 5/1/2013 in the Prospect News Structured Products Daily.
New Issue: BofA prices $12.57 million market-linked step-up notes on Euro Stoxx 50
By Jennifer Chiou
New York, May 1 - Bank of America Corp. priced $12,568,740 of market-linked step-up notes due April 24, 2015 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the step-up value - 120.5% of the initial level - the payout at maturity will be par plus the index gain.
If the index finishes below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 20.5%.
Investors will receive par for losses up to 5% and will be exposed to any losses beyond the buffer.
BofA Merrill Lynch is the agent.
Issuer: | Bank of America Corp.
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Issue: | Market-linked step-up notes
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Underlying index: | Euro Stoxx 50
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Amount: | $12,568,740
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Maturity: | April 24, 2015
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index finishes above step-up value, par plus return; if index finishes below step-up level but at or above initial level, par plus 20.5%; par for losses up to 5% and exposure to any losses beyond the buffer
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Initial level: | 2,704.41
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Step-up value: | 3,258.81, 120.5% of initial value
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Pricing date: | April 25
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Settlement date: | May 2
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06053E664
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