By Angela McDaniels
Tacoma, Wash., Dec. 26 - Bank of America Corp. priced $18.32 million of 0% market-linked step-up notes due Jan. 2, 2018 linked to a basket holding equal weights of the Euro Stoxx 50 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
If the basket's final level is greater than the step-up value, the payout at maturity will be par of $10 plus the basket return. The step-up value is 118.2% of the initial level.
If the basket's final level is greater than or equal to the initial level but less than or equal to the step-up value, the payout will be par plus 18.2%.
If the basket's final level is greater than or equal to the threshold value, 85% of the initial level, but less than the initial level, the payout will be par.
If the basket's final level is less than the threshold value, investors will lose 1% for every 1% that the basket declines below the threshold value.
BofA Merrill Lynch is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Market-linked step up notes
|
| Underlying indexes: | Euro Stoxx 50 and MSCI Emerging Markets, equally weighted
|
| Amount: | $18,317,870
|
| Maturity: | Jan. 2, 2018
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If basket's final level is greater than step-up value, par plus basket return; if basket's final level is greater than or equal to initial level but less than or equal to step-up value, par plus 18.2%; if basket's final level is greater than or equal to threshold value but less than initial level, par; if basket's final level is less than threshold value, 1% loss for every 1% that basket declines below threshold value
|
| Initial index levels: | 3,070.91 for Euro Stoxx 50 and 992.69 for MSCI Emerging Markets
|
| Initial basket level: | 100
|
| Step-up value: | 118.2% of initial basket level
|
| Threshold level: | 85% of initial basket level
|
| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 31
|
| Underwriters: | BofA Merrill Lynch
|
| Fees: | 2.5%
|
| Cusip: | 06053G487
|
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