Accelerated Return Notes® Linked to the Gold Spot Price | This graph reflects the hypothetical return on the notes, based on the mid-point of the range(s) set forth in the table to the left. This graph has been prepared for purposes of illustration only. | |
Issuer | Bank of America Corporation (BAC) | |
Principal Amount | $10.00 per unit | |
Term | Approximately 14 months | |
Market Measure | The LBMA Gold Price (the Gold Spot Price), which is a benchmark price for gold in U.S. dollars and delivered immediately (Bloomberg symbol: GOLDLNPM) | |
Payout Profile at Maturity | ● 3-to-1 upside exposure to increases in the Market Measure, subject to the Capped Value ● 1-to-1 downside exposure to decreases in the Market Measure, with 100% of your investment at risk | |
Capped Value | [$11.10 to $11.50] per unit, a [11% to 15%] return over the principal amount, to be determined on the pricing date. | |
Interest Payments | None | |
Preliminary Offering Documents | ||
Exchange Listing | No |
● | Depending on the performance of the Market Measure as measured shortly before the maturity date, 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 Capped Value and may be less than a comparable investment directly in gold, as measured by 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 not be entitled to any rights with respect to the Market Measure or any related futures contracts. |
● | The notes will not be regulated by the U.S. Commodity Futures Trading Commission. Changes in laws or regulations may affect the value of the notes. |
● | There are risks associated with investing in gold or gold-linked notes. |
● | Changes in the methodology used to calculate the Gold Spot Price or changes in laws or regulations may affect the value of the notes. |