By Marisa Wong
Madison, Wis., Feb. 3 - Bank of America Corp. priced $86.18 million of 0% market-linked step-up notes due Jan. 27, 2017 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 40% weight, the MSCI EAFE index with a 30% weight and the Euro Stoxx 50 index with a 30% weight.
If the basket finishes above the step-up level, 118% of the initial basket level, the payout at maturity will be par of $10 plus the basket return.
If the basket return is zero or positive but the basket finishes at or below the step-up level, the payout will be par plus 18%.
If the basket return is negative, investors will have 1-to-1 exposure to the decline.
BofA Merrill Lynch is the underwriter.
Issuer: | Bank of America Corp.
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Issue: | Market-linked step-up notes
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Underlying indexes: | S&P 500 index (40% weight), MSCI EAFE index (30% weight) and Euro Stoxx 50 (30% weight)
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Amount: | $86,184,900
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Maturity: | Jan. 27, 2017
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If basket finishes above step-up level, par plus basket return; if basket is flat or increases up to step-up level, par plus 18%; full exposure to any basket decline
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Initial index levels: | 1,794.19 for S&P 500; 1,847.18 for MSCI EAFE; 3,027.30 for Euro Stoxx 50
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Step-up level: | 118% of initial basket level
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Pricing date: | Jan. 30
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Settlement date: | Feb. 6
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Underwriter: | BofA Merrill Lynch
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Fees: | 2.25%
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Cusip: | 06053G594
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