By Marisa Wong
Madison, Wis., July 28 – Bank of America Corp. priced $8.47 million of market-linked step-up notes due July 27, 2018 linked to a basket of three approximately equally weighted indexes, according to an FWP filing with the Securities and Exchange Commission.
The underlying components are the S&P 500 index, with a 33.34% weight, and the MSCI Emerging Markets index and the Euro Stoxx 50 index, each with a 33.33% weight.
If the basket finishes at or above the step-up value – 121.4% of the initial level – the payout at maturity will be par plus the gain.
If the basket finishes below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 21.4%.
The payout at maturity will be par if the basket finishes at or above its 90% threshold level. Investors will be exposed to any declines beyond 10%.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Market-linked step-up notes
|
| Underlying basket: | S&P 500 index (33.34% weight), MSCI Emerging Markets index (33.33% weight) and Euro Stoxx 50 index (33.33% weight)
|
| Amount: | $8,467,560
|
| Maturity: | July 27, 2018
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If basket finishes above step-up value, par plus gain; if basket finishes at or below step-up level but at or above initial level, par plus 21.4%; par if basket finishes at or above threshold level; exposure to any declines beyond 10%
|
| Initial index levels: | 1,987.98 for S&P 500, 1,080.85 for MSCI EM, 3,220.07 for Euro Stoxx
|
| Step-up value: | 121.4% of initial level
|
| Threshold level: | 90% of initial level
|
| Pricing date: | July 24
|
| Settlement date: | July 31
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2.5%
|
| Cusip: | 06053M377
|
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