Published on 9/19/2018 in the Prospect News Structured Products Daily.
New Issue: SunTrust sells $17.63 million Leveraged Index Return Notes on Stoxx 50
By Marisa Wong
Morgantown, W.Va., Sept. 19 – SunTrust Banks, Inc. priced $17.63 million of 0% Leveraged Index Return Notes due Aug. 27, 2021 tied to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 158% of any index gain.
Investors will receive par if the index falls by up to 25% and will lose 1% for every 1% decline from the initial level if the index falls by more 25%.
BofA Merrill Lynch is the agent.
Issuer: | SunTrust Banks, Inc.
|
Issue: | Leveraged Index Return Notes
|
Underlying index: | Euro Stoxx 50
|
Amount: | $17,626,550
|
Maturity: | Aug. 27, 2021
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | Par plus 158% of any index gain; par if index declines by up to 25%; 1% loss for every 1% decline beyond 25%
|
Initial value: | 3,430.99
|
Threshold value: | 2,573.24, 75% of initial value
|
Pricing date: | Aug. 30
|
Settlement date: | Sept. 7
|
Agent: | BofA Merrill Lynch
|
Fees: | 2.25%
|
Cusip: | 867914830
|
|
© 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.