New Issue: Bank of America prices $4.43 million relative value Stars on stocks vs. T-bond fund

By Marisa Wong

Madison, Wis., Sept. 8 – Bank of America Corp. priced $4.43 million of 0% relative value Strategic Accelerated Redemption Securities due Sept. 18, 2015 linked to the performance of a basket of three equally weighted financial stocks versus the iShares Barclays 20+ Year Treasury Bond fund, according to a 424B2 filing with the Securities and Exchange Commission.

The underlying companies are Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co.

The notes will be called at par of $10 plus a premium of 10.1% per year if the stock basket performs at or above the level of the T-bond fund on any of the three observation dates.

If the notes are not called, the payout at maturity will be par unless the basket finishes below the T-bond fund, in which case investors will be exposed to any losses.

BofA Merrill Lynch is the agent.

Issuer:	Bank of America Corp.
Issue:	Relative value Strategic Accelerated Redemption Securities
Underlying stock basket:	Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co., equally weighted, vs. iShares Barclays 20+ Year Treasury Bond fund
Amount:	$4,434,620
Maturity:	Sept. 18, 2015
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par unless basket finishes below the T-bond fund, in which case full exposure to any losses
Call:	At par plus 10.1% per year if stock basket performs at or above the level of the T-bond fund on March 6, 2015, June 5, 2015 or Sept. 11, 2015
Pricing date:	Sept. 4
Settlement date:	Sept. 11
Agent:	BofA Merrill Lynch
Fees:	1.25%
Cusip:	06053M492

© 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.