Published on 7/7/2014 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $19.35 million Capped Leveraged Index Return Notes on natural gas
New York, July 7 – Bank of America Corp. priced $19.35 million of 0% Capped Leveraged Index Return Notes due Aug. 2, 2017 tied to the front month futures contract for natural gas, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 200% of the index return, subject to a maximum payout of par plus 30%. Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline in the index beyond 10%.
Merrill Lynch & Co. is the underwriter.
Issuer: | Bank of America Corp.
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Issue: | Capped Leveraged Index Return Notes
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Underlying index: | front month futures contract for Natural Gas
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Amount: | $19,350,110
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Maturity: | Aug. 2, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 200% of index return, subject to maximum payout of par plus 30%; par if index falls by up to 10%; 1% loss for every 1% decline beyond 10%
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Initial index level: | 4.357
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Pricing date: | July 2
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Settlement date: | July 10
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Underwriters: | Merrill Lynch & Co.
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Fees: | 2.25%
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Cusip: | 06053M294
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