Market Overview

Navian Capital, Bank of America Merrill Lynch and Morgan Stanley Launch Open Architecture Online Platform for Structured Products and Annuities

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Using state-of-the-art web-based technology, newly formed entity will
offer independent platform for structured products and annuities

Luma Financial Technologies, a new venture formed by co-investors Navian
Capital, Bank of America Merrill Lynch and Morgan Stanley, announces the
launch of an independent, multi-issuer electronic platform for
structured products and annuities.

Luma is the next evolution of Navian Capital's award-winning, fully
customizable online platform that was developed for its customers and
refined in-house over the past seven years. Luma will further improve
upon and extend market-leading capabilities in workflow automation,
post-trade position monitoring, and comprehensive education, training
and compliance management. The platform will now be available to any
distributor, thus helping to grow the market for structured products and
annuities.

Tim Bonacci, President and CEO of Luma, commented: "With partnership and
support from BofA Merrill and Morgan Stanley, we are confident Luma will
become the market-leading platform with scale and seamless customization
for any distribution firm.''

Nikki Tippins, Managing Director at Morgan Stanley, said: ``Morgan
Stanley is excited about the potential impact Luma will have on the
structured products and annuities market. The platform can be tailored
to any firms' workflow and business needs providing ease of access to
distributors across the marketplace."

Henry Flowers, Managing Director at BofA Merrill, is encouraged by the
potential for greater efficiency and transparency enabled by Luma. "We
are looking to optimize and simplify how structured products and
annuities are created, distributed and managed over the entire lifecycle
for their clients. Luma does this exceptionally well and we look forward
to working with the team to further advance this market."

For more information about Luma, please visit www.lumafintech.com.

About Navian Capital, LLC

Founded in 2005, Navian Capital, LLC is a premier provider of structured
products and annuities. Navian Capital offers financial professionals
access to a diverse range of investment opportunities including
market-linked CDs, structured notes, proprietary structured investments,
as well as fixed, indexed, and variable annuities. Headquartered in
Cincinnati, Ohio, Navian Capital has staff throughout the United States
to best support its national client base. For more information, call
877-213-6570 or visit www.naviancapital.com.

About Morgan Stanley

Morgan Stanley (NYSE:MS) is a leading global financial services firm
providing investment banking, securities, wealth management and
investment management services. With offices in more than 41 countries,
the Firm's employees serve clients worldwide including corporations,
governments, institutions and individuals. For more information about
Morgan Stanley, please visit www.morganstanley.com.

About Bank of America

Bank of America is one of the world's leading financial institutions,
serving individual consumers, small and middle-market businesses and
large corporations with a full range of banking, investing, asset
management and other financial and risk management products and
services. The company provides unmatched convenience in the United
States, serving approximately 47 million consumer and small business
relationships with approximately 4,400 retail financial centers,
approximately 16,000 ATMs, and award-winning digital banking with
approximately 36 million active users, including 25 million mobile
users. Bank of America is a global leader in wealth management,
corporate and investment banking and trading across a broad range of
asset classes, serving corporations, governments, institutions and
individuals around the world. Bank of America offers industry-leading
support to approximately 3 million small business owners through a suite
of innovative, easy-to-use online products and services. The company
serves clients through operations across the United States, its
territories and more than 35 countries. Bank of America Corporation
stock (NYSE:BAC) is listed on the New York Stock Exchange.

"Bank of America Merrill Lynch" is the marketing name for the global
banking and global markets businesses of Bank of America Corporation.
Lending, derivatives, and other commercial banking activities are
performed globally by banking affiliates of Bank of America Corporation,
including Bank of America, N.A., member FDIC. Securities, strategic
advisory, and other investment banking activities are performed globally
by investment banking affiliates of Bank of America Corporation
("Investment Banking Affiliates"), including, in the United States,
Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch
Professional Clearing Corp., both of which are registered broker-dealers
and Members of SIPC,
and, in other jurisdictions, by locally registered entities. Merrill
Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch
Professional Clearing Corp. are registered as futures commission
merchants with the CFTC and are members of the NFA. Investment products
offered by Investment Banking Affiliates: Are Not FDIC Insured * May
Lose Value * Are Not Bank Guaranteed. ©2018 Bank of America Corporation.

For more Bank of America news, including dividend announcements and
other important information, visit the Bank
of America newsroom
. Click here
to register for news email alerts. www.bankofamerica.com

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