Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Chinese renminbi > News item |
Bank of America plans step-up notes tied to emerging market currencies
By Susanna Moon
Chicago, Oct. 6 – Bank of America Corp. plans to price currency-linked step-up notes due October 2016 linked to a basket of equally weighted emerging market currencies, relative to the euro, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying currencies are the Chinese renminbi, the Indian rupee and the Russian ruble.
If the basket finishes at or above the step-up value – 117% to 123% of the initial level – the payout at maturity will be par plus the gain.
If the basket finishes below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 17% to 23%.
Investors will be exposed to losses, with a minimum payout of 90% of par.
The exact deal terms will be set at pricing.
Bank of America Merrill Lynch is the agent.
The notes will price in October and settle in November.
© 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.