Published on 12/20/2019 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $1 million digital return notes linked to S&P 500, Russell 2000
By Kiku Steinfeld
Chicago, Dec. 20 – Bank of America Corp. priced $1 million of 0% digital return notes due Dec. 17, 2020 linked to S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its threshold value, 70% of its initial level, the payout at maturity will be par plus 7.5%. If either index finishes at or below its threshold value, investors will be fully exposed to the decline of the lesser-performing index.
BofA Securities, Inc.
Issuer: | Bank of America Corp.
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Issue: | Digital return notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $1,000,000
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Maturity: | Dec. 17, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final level of each index is greater than threshold value, par plus 7.5%; if either index finishes at or below threshold value, full exposure to decline of lesser-performing index
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Initial index levels: | 3,117.43 for S&P 500 and 1,614.833 for Russell 2000
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Threshold values: | 2,182.20 for S&P 500 and 1,130.383 for Russell 2000; 70% of initial levels
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Pricing date: | Dec. 10
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Settlement date: | Dec. 13
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Selling agent: | BofA Securities, Inc.
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Fees: | 0.25%
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Cusip: | 09709TYL9
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