Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for S&P 500 index > News item |
Bank of America to price market-linked step-up notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Oct. 7 - Bank of America Corp. plans to price 0% market-linked step-up notes due October 2015 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par of $10 plus the greater of the index return and the step-up payment, which is expected to be 44% to 50% and will be set at pricing.
Investors will receive par if the index declines by 20% or less and will lose 1% for every 1% that it declines beyond 20%.
The notes are expected to price in October and settle in November.
Bank of America Merrill Lynch is the underwriter.
© 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.