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Bank of America plans Capped Leveraged Index Return Notes on Stoxx
By Wendy Van Sickle
Columbus, Ohio, March 2 – Bank of America plans to price 0% Capped Leveraged Index Return Notes linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index return, capped at 24% to 28%. The exact maximum will be set at pricing.
If the index falls by up to 10%, the payout will be par. Investors will lose 1% for every 1% the index falls below 90% of its initial level.
The notes will price and settle in March.
Merrill Lynch & Co. is the agent.
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