New Issue: Bank of America prices $17.46 million market-linked step-up autocallables on Russell

By Susanna Moon

Chicago, Nov. 4 – Bank of America Corp. priced $17.46 million of 0% autocallable market-linked step-up notes due Oct. 30, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus 7.65% per year if the index closes at or above the initial level on any annual call date.

If the index finishes above the step-up value – 130% of the initial level – the payout at maturity will be par of $10 plus the index gain.

If the index finishes at or above the initial level but at or below the step-up value, the payout at maturity will be par of $10 plus the step-up payment of 30%.

Investors will receive par if the index falls by up to 15% and will be exposed to any losses beyond 15%.

BofA Merrill Lynch is the agent.

Issuer:	Bank of America Corp.
Issue:	Autocallable market-linked step-up notes
Underlying index:	Russell 2000
Amount:	$17,475,850
Maturity:	Oct. 30, 2020
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index finishes above step-up level, par plus gain; if index gains up to step-up value, par plus 30%; par if index falls by up to 15%; exposure to any losses beyond 15%
Call:	At 7.65% if index closes at or above initial level on Nov. 4, 2016, Oct. 20, 2017, Oct. 19, 2018 and Oct. 18, 2019
Initial level:	1,165.625
Step-up level:	130% of the initial level
Pricing date:	Oct. 29
Settlement date:	Nov. 5
Underwriters:	BofA Merrill Lynch
Fees:	2%
Cusip:	06053Y132

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