Published on 9/30/2013 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $30.46 million market-linked step up notes linked to S&P 500
New York, Sept. 30 - Bank of America Corp. priced $30.46 million of 0% market-linked step up notes due Sept. 28, 2018 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% decline in the index beyond 20%.
Merrill Lynch & Co. is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Market-linked step up notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $30,459,180
|
| Maturity: | Sept. 28, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par if index falls by up to 20%; 1% loss for every 1% decline beyond 20%
|
| Initial index level: | 1,698.67
|
| Pricing date: | Sept. 26
|
| Settlement date: | Oct. 4
|
| Underwriters: | Merrill Lynch & Co.
|
| Fees: | 2.5%
|
| Cusip: | 06053F661
|
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