Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for FTSE 100 index > News item |
Bank of America plans market-linked step-up notes on index basket
By Toni Weeks
San Luis Obispo, Calif., Feb. 13 – Bank of America Corp. plans to price market-linked step-up notes due February 2017 tied to a basket of unequally weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket is comprised of the Euro Stoxx 50 index with a 40% weight, the Nikkei Stock Average index with a 25% weight, the FTSE 100 index with a 20% weight, the S&P/ASX 200 index with a 7.5% weight and the Swiss Market index with a 7.5% weight.
If the basket finishes above the step-up value, 110% to 116% of the initial basket level, the payout at maturity will be par plus the basket return. If the basket stays flat or increases up to the step-up value, the payout will be par plus a return of 10% to 16%. Investors will be exposed to any losses.
The exact terms will be set at pricing.
BofA Merrill Lynch is the underwriter.
The notes will price and settle in February.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.