Bank of America plans buffered enhanced return notes linked to S&P 500

By Devika Patel

Knoxville, Tenn., Sept. 22 – Bank of America Corp. plans to price 0% buffered enhanced return notes due March 2018 with capped upside and buffered downside linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial index level, the payout at maturity will be par plus two times the index return, subject to a maximum settlement amount of at least $1,160 per $1,000 of notes that will be set at pricing.

Investors will receive par if the index declines by 15% or less and will be exposed to all declines beyond 15%.

Merrill Lynch & Co. is the agent.

The notes (Cusip: 06048WRS1) will price and settle in September.

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