By Angela McDaniels
Tacoma, Wash., Oct. 28 - Bank of America Corp. priced $23.77 million of 0% market-linked step-up notes due Oct. 23, 2015 linked to the Stoxx 600 Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the step-up level, 122.8% of the initial index level, the payout at maturity will be par of $10 plus the index return.
If the index return is zero or positive but the index finishes at or below the step-up level, the payout will be par plus 22.8%.
If the index return is negative, investors will be fully exposed to the decline.
The index is one of 19 Stoxx Europe 600 Supersector indexes that make up the Stoxx Europe 600 index. The Stoxx Europe 600 index contains the 600 largest stocks by free float market capitalization traded on the major exchanges of 17 European countries. Each of the 19 Stoxx Europe 600 Supersector indexes contains the companies of the Stoxx Europe 600 index that fall within the relevant supersector.
BofA Merrill Lynch is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Market-linked step-up notes
|
| Underlying index: | Stoxx 600 Banks
|
| Amount: | $23,773,390
|
| Maturity: | Oct. 23, 2015
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index finishes above step-up level, par plus index return; if index is flat or increases up to step-up level, par plus 22.8%; full exposure to any index decline
|
| Initial index level: | 194.23
|
| Step-up level: | 238.51, 122.8% of initial level
|
| Pricing date: | Oct. 24
|
| Settlement date: | Oct. 31
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06053F869
|
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