By Toni Weeks
San Luis Obispo, Calif., May 26 – Bank of America Corp. priced $32.95 million of 0% Leveraged Index Return Notes due May 29, 2020 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 129.2% of any index gain.
Investors will receive par if the index falls by up to 10% and will be exposed to any losses beyond the 10% buffer.
The final index level will be the average of the closing index levels on the five trading days ending May 26, 2020.
BofA Merrill Lynch is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Leveraged Index Return Notes
|
| Underlying index: | Dow Jones industrial average
|
| Amount: | $32,951,000
|
| Maturity: | May 29, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 129.2% of any index gain; par if index falls by up to 10%; exposure to any losses beyond the 10% buffer
|
| Initial index level: | 18,285.74
|
| Threshold value: | 16,457.17, 90% of initial value
|
| Final index level: | Average of index's closing levels on five trading days ending May 26, 2020
|
| Pricing date: | May 21
|
| Settlement date: | May 29
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2.5%
|
| Cusip: | 06053W433
|
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