Published on 11/4/2015 in the Prospect News Structured Products Daily.
New Issue: Bank of America sells $15.31 million 8.25% autocallables tied to Disney
By Susanna Moon
Chicago, Nov. 4 – Bank of America Corp. priced $15.31 million of 8.25% coupon bearing notes due Nov. 14, 2016 linked to Walt Disney Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par if the stock closes at or above the initial level on either call date.
The payout at maturity will be par unless the stock falls, in which case investors will be exposed to any losses.
Bank of America Merrill Lynch is the agent.
Issuer: | Bank of America Corp.
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Issue: | Coupon bearing notes
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Underlying stock: | Walt Disney Co. (NYSE: DIS)
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Amount: | $15,308,140
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Maturity: | Nov. 14, 2016
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Coupon: | 8.25%, payable quarterly
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Price: | Par of $10
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Payout at maturity: | If stock finishes at or above initial level, par; otherwise, 1% loss for every 1% decline
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Call: | At par if stock closes at or above initial level on April 22, 2016 or July 22, 2016
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Initial price: | $114.90
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Pricing date: | Oct. 29
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Settlement date: | Nov. 5
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Agent: | Bank of America Merrill Lynch
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Fees: | 1.25%
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Cusip: | 06053Y157
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