By Marisa Wong
Morgantown, W.Va., Nov. 21 – Bank of America Corp. priced $2.5 million of 9% autocallable yield notes due Nov. 22, 2017 linked to least performing of the common stocks of Honeywell International Inc., Pfizer Inc. and Starbucks Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically redeemed at par if each stock closes at or above its initial price on May 17 or Aug. 17, 2017
The payout at maturity will be par unless any stock finishes below its downside threshold, 65% of its initial price, in which case investors will be fully exposed to the decline of the least performing stock.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
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| Issue: | Autocallable yield notes
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| Underlying stocks: | Honeywell International Inc. (Symbol: HON), Pfizer Inc. (Symbol: PFE) and Starbucks Corp. (Symbol: SBUX)
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| Amount: | $2.5 million
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| Maturity: | Nov. 22, 2017
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| Coupon: | 9%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below downside threshold, in which case par plus return of least performing stock with full exposure to losses
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| Call: | Automatically at par if each stock closes at or above its initial price on May 17 or Aug. 17, 2017
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| Initial share prices: | $113.03 for Honeywell, $55.73 for Pfizer and $31.88 for Starbucks
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| Downside thresholds: | $73.47 for Honeywell, $36.22 for Pfizer and $20.72 for Starbucks; 65% of initial prices
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| Pricing date: | Nov. 17
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| Settlement date: | Nov. 22
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| Agent: | BofA Merrill Lynch
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| Fees: | None
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| Cusip: | 06048WTU4
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