Autocallable Coupon Bearing Notes Linked to the S&P 500® Index | |
Issuer | Bank of America Corporation (BAC) |
Principal Amount | $10.00 per unit |
Market Measure | The S&P 500® Index (Bloomberg symbol: SPX) |
Term | Approximately one year and one week, if not called |
Automatic Call | The notes will be automatically called if the closing level of the Market Measure on any of the Observation Dates is equal to or greater than the Starting Value. |
Call Amount | The principal amount plus the applicable interest payment. |
Observation Dates | Approximately six and nine months after the pricing date. |
Interest Payments | Payable quarterly at a rate of [6.50% to 7.50%] per annum. |
Payout Profile at Maturity | ● No participation in any increase in the level of the Market Measure, and the Redemption Amount at maturity will not exceed the principal amount per unit, plus the final interest payment ● 1-to-1 downside exposure to decreases in the Market Measure, with up to 100% of your principal at risk |
Threshold Value | 100% of the Starting Value |
Preliminary Offering Documents | |
Exchange Listing | No |
● | If your notes are not called prior to maturity, your investment may result in a loss; there is no guaranteed return of principal. |
● | Payments on the notes are subject to the credit risk of BAC, and actual or perceived changes in the creditworthiness of BAC are expected to affect the value of the notes. If BAC becomes insolvent or is unable to pay its obligations, you may lose your entire investment. |
● | Your investment return is limited to the return represented by the periodic interest payments over the term of the notes, and may be less than a comparable investment directly in the stocks included in the Market Measure. |
● | The initial estimated value of the notes on the pricing date will be less than their public offering price. |
● | If you attempt to sell the notes prior to maturity, their market value may be lower than both the public offering price and the initial estimated value of the notes on the pricing date. |
● | You will have no rights of a holder of the securities represented by the Market Measure, and you will not be entitled to receive securities or dividends or other distributions by the issuers of those securities. |