Published on 10/27/2014 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $9.25 million leveraged notes on S&P 500
By Jennifer Chiou
New York, Oct. 27 – Bank of America Corp. priced $9,245,000 of 0% leveraged notes due Oct. 28, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 200% of the index gain.
Investors will share in losses.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Leveraged notes
|
| Underlying index: | S&P 500
|
| Amount: | $9,245,000
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| Maturity: | Oct. 28, 2024
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index return is positive, par plus 200% of gain; exposure to losses
|
| Initial index level: | 1,950.82
|
| Pricing date: | Oct. 23
|
| Settlement date: | Oct. 28
|
| Agent: | BofA Merrill Lynch
|
| Fees: | None
|
| Cusip: | 06048WPW4
|
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