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Bank of America plans Capped Leveraged Index Return Notes on S&P 500
By Angela McDaniels
Tacoma, Wash., Sept. 25 – Bank of America Corp. plans to price 0% Capped Leveraged Index Return Notes due October 2017 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 return, subject to a maximum return that is expected to be 11.5% to 15.5% and will be set at pricing. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
BofA Merrill Lynch is the agent.
The notes will price in October and settle in November.
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