Callable Range Accrual Credit Linked Note issued by Merrill Lynch B.V. · Guarantor: Bank of America, denominated in USD. Its payout is linked to US CMT 10Y, State of Israel (credit).
This is a credit-linked investment. A credit event affecting the reference entity may reduce repayments or cause a loss, independently of movements in the other reference assets. The issuer’s own credit risk also applies.
The coupon accrues only for observation days on which the reference rate is within the stated accrual range. The quoted annual rate is not an unconditional return: the actual payment depends on eligible days and the day-count rules in the final terms.
The stated annual coupon rate is 13.3%, with quarterly payments. Payment conditions are defined in the final terms.
The issuer may have a right to redeem the note early under its call provisions. An issuer call is discretionary and is not the same as an automatic market-triggered autocall.
US CMT 10Y
The US 10-year Constant Maturity Treasury rate is a reference yield derived from the US Treasury yield curve. It is an interest-rate measure, not an equity share. In this note, its level determines range-accrual eligibility.
No matching security record is currently available in the underlying feed.
State of Israel (credit)
The State of Israel is the reference credit entity, not an equity underlying. A defined sovereign credit event can affect the note’s repayment under its credit-linked provisions.
No matching security record is currently available in the underlying feed.
Structured products carry issuer credit risk, market risk and liquidity risk. You may lose part or all of your investment. Barrier levels and quoted coupons do not guarantee a return. Early sale may result in a loss, and currency movements may affect returns.
This explanation summarizes the available feed data; it is not the complete legal term sheet, personalized investment advice or a recommendation. Exact observation rules, credit-event definitions, fees, settlement terms and the full payout formula must be verified in the issuer’s final documentation. Request the final terms before investing.