Published on 6/28/2010 in the Prospect News Structured Products Daily.
New Issue: Bank of America sells $30.88 million capped leveraged notes on Rogers Commodity
By Susanna Moon
Chicago, June 28 - Bank of America Corp. priced $30.88 million of 0% Capped Leveraged Index Return Notes due June 29, 2012 based on the Rogers International Commodity Index - Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 plus double any gain in the index, up to a maximum payout of $13.025 per note.
Investors will receive par if the index falls by up to 5% and will lose 1% for every 1% decline beyond 5%.
Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC are the agents.
Issuer: | Bank of America Corp.
|
Issue: | Capped Leveraged Index Return Notes
|
Underlying index: | Rogers International Commodity Index - Excess Return
|
Amount: | $30,875,990
|
Maturity: | June 29, 2012
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | Par plus 200% of any index gain, capped at 30.25%; 1% loss for every 1% drop beyond 5%
|
Initial index level: | 2,240.56
|
Threshold level: | 2,128.53, or 95% of initial level
|
Pricing date: | June 24
|
Settlement date: | June 29
|
Agents: | Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC
|
Fees: | 2%
|
Cusip: | 06052K232
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.