Published on 6/3/2013 in the Prospect News Structured Products Daily.
New Issue: BofA prices $17.27 million 0% Accelerated Return Notes on three stocks
By Marisa Wong
Madison, Wis., June 3 - Bank of America Corp. priced $17.27 million of 0% Accelerated Return Notes due July 25, 2014 linked to a basket of three stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of equal weights of Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co.
The payout at maturity will be par of $10 plus triple any gain in the basket, subject to a maximum return of 19.5%. Investors will be fully exposed to any decline in the basket.
BofA Merrill Lynch will act as agent.
Issuer: | Bank of America Corp.
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Issue: | Accelerated Return Notes
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Underlying stocks: | Citigroup Inc. (NYSE: C), JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Co. (NYSE: WFC)
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Amount: | $17,273,550
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Maturity: | July 25, 2014
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus triple any gain in the basket, return capped at 19.5%; full exposure to any basket decline
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Initial prices: | $53.27for Citigroup, $55.62 for JPMorgan, $41.25 for Wells Fargo
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Pricing date: | May 30
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Settlement date: | June 6
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06053E854
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