| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers S > Headlines for S&P 500 index > News item |
Bank of America plans two-year market-linked step-up notes on S&P 500
By Marisa Wong
Morgantown, W.Va., March 29 – BofA Finance LLC plans to price 0% market-linked step-up notes due March 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Bank of America Corp. will guarantee the notes.
If the index finishes above the step-up level – 120% to 126% of the initial level – the payout at maturity will be par plus the gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up return of 20% to 26%.
If the index falls by up to 5%, the payout will be par.
Investors will be exposed to any declines beyond 5%.
BofA Merrill Lynch is the agent.
The notes will price in March and settle in April.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.