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Bank of America plans capped Leveraged Index Return Notes on S&P 500
By Tali Rackner
Norfolk, Va., Dec. 24 – Bank of America Corp. plans to price 0% capped Leveraged Index Return Notes due January 2018 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 two times the index return, subject to a cap that is expected to be 12% to 16% and will be set at pricing.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% that it declines beyond 10%.
BofA Merrill Lynch is the underwriter.
The notes will price in January and settle in February.
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