Published on 3/28/2016 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $18.35 million Accelerated Return Notes on Apple
New York, March 28 – Bank of America Corp. priced $18.35 million of 0% Accelerated Return Notes due April 7, 2017 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, up to a maximum return of 21.78%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Accelerated Return Notes
|
| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
|
| Amount: | $18,347,400
|
| Maturity: | April 7, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 300% of any index gain, capped at 21.78%; exposure to any losses
|
| Initial stock level: | $106.48
|
| Pricing date: | March 23
|
| Settlement date: | March 31
|
| Underwriters: | BofA Merrill Lynch
|
| Fees: | 1.75%
|
| Cusip: | 06053Y686
|
|
|
|
|
© 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.
