Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for Wells Fargo & Co. > News item |
Bank of America to price Accelerated Return Notes linked to financials
By Angela McDaniels
Tacoma, Wash., May 16 - Bank of America Corp. plans to price 0% Accelerated Return Notes due July 2014 linked to a basket of financial sector stocks, according to an FWP filing with the Securities and Exchange Commission.
The basket includes Citigroup Inc. with a 33.34% weight, JPMorgan Chase & Co. with a 33.33% weight and Wells Fargo & Co. with a 33.33% weight.
The payout at maturity will be par of $10 plus triple any increase in the basket, subject to a maximum return of 15% to 19% that will be set at pricing. Investors will be fully exposed to any basket decline.
BofA Merrill Lynch is the agent.
The notes are expected to price in May and settle in June.
© 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.