Filed Pursuant to Rule 433
Registration No. 333-202354
Strategic Accelerated Redemption Securities® Linked to the S&P 500® Index | |
Issuer | Bank of America Corporation (BAC) |
Principal Amount | $10.00 per unit |
Term | Approximately one year and one week, if not called on the first or second Observation Dates |
Market Measure | S&P 500® Index (Bloomberg symbol: SPX) |
Automatic Call | Automatic call if the Observation Level of the Market Measure on any of the Observation Dates is equal to or greater than the starting value |
Observation Level | The closing level of the Market Measure on any Observation Date |
Observation Dates | Approximately six, nine, and twelve months after the pricing date |
Call Premium | In the event of an automatic call, the amount payable per unit will be: [$10.350 to $10.550] if called on the first Observation Date [$10.525 to $10.825] if called on the second Observation Date [$10.700 to $11.100] if called on the final Observation Date |
Payout Profile at Maturity | If not called, 1-to-1 downside exposure to decreases in the Market Measure, with up to 100% of your principal at risk |
Interest Payments | None |
Preliminary Offering Documents | |
Exchange Listing | No |
● | If the notes are not automatically called, your investment will 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 applicable Call Premium 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. |