Published on 8/1/2016 in the Prospect News Structured Products Daily.
New Issue: Bank of America sells $20.44 million Capped Leveraged Index Return Notes on indexes
By Marisa Wong
Morgantown, W.Va., Aug. 1 – Bank of America Corp. priced $20.44 million of 0% Capped Leveraged Index Return Notes due July 27, 2018 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the S&P 500 index with a 45% weight, the MSCI EAFE index with a 27.5% weight and the MSCI Emerging Markets index with a 27.5% weight.
If the basket return is positive, the payout at maturity will be par of $10 plus double the basket gain. If the basket falls by up to 10%, the payout will be par. Investors will be exposed to declines beyond 10%.
BofA Merrill Lynch is the agent.
Issuer: | Bank of America Corp.
|
Issue: | Capped Leveraged Index Return Notes
|
Underlying basket: | S&P 500 index with a 45% weight, MSCI EAFE index with a 27.5% weight and MSCI Emerging Markets index with a 27.5% weight
|
Amount: | $20,439,500
|
Maturity: | July 27, 2018
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | If the basket return is positive, par plus 200% of the basket gain; par if basket falls by up to 10%; exposure to declines beyond 10%
|
Initial levels: | 2,170.06 for S&P, 1,685.16 for EAFE, 875.52 for EM
|
Pricing date: | July 28
|
Settlement date: | Aug. 4
|
Agent: | BofA Merrill Lynch
|
Fees: | 2%
|
Cusip: | 06054B297
|
|
© 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.