Published on 11/27/2013 in the Prospect News Structured Products Daily.
New Issue: Bank of America sells $28.94 million Capped Leveraged Index Return Notes on S&P 500
By Marisa Wong
Madison, Wis., Nov. 27 - Bank of America Corp. priced $28.94 million of 0% Capped Leveraged Index Return Notes due Dec. 1, 2015 tied to the S&P 500 index, 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 18.02%. Investors will receive par if the index falls by up to 5% and will lose 1% for every 1% decline in the index beyond 5%.
BofA Merrill Lynch is the underwriter.
Issuer: | Bank of America Corp.
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Issue: | Capped Leveraged Index Return Notes
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Underlying index: | S&P 500 Index
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Amount: | $28,936,860
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Maturity: | Dec. 1, 2015
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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 18.02%; par if index falls by up to 5%; 1% loss for every 1% decline beyond 5%
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Initial index level: | 1,802.75
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Threshold level: | 1,712.61, 95% of initial level
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Pricing date: | Nov. 26
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Settlement date: | Dec. 3
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Underwriters: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06053G156
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