Published on 7/11/2016 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $44.57 million Accelerated Return Notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., July 11 – Bank of America Corp. priced $44.57 million of 0% Accelerated Return Notes due Aug. 25, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, up to a maximum return of 11.88%. Investors will be exposed to any index decline.
BofA Merrill Lynch is the underwriter.
Issuer: | Bank of America Corp.
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Issue: | Accelerated Return Notes
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Underlying index: | S&P 500
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Amount: | $44,573,940
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Maturity: | Aug. 25, 2017
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at 11.88%; exposure to any index decline
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Initial level: | 2,097.90
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Final index level: | Average of index’s closing levels on five trading days ending Aug. 22, 2017
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Pricing date: | July 7
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Settlement date: | July 13
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Underwriters: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06054B206
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