E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 10/29/2012 in the Prospect News Structured Products Daily.

New Issue: Bank of America prices $12.88 million Capped Leveraged Index Return Notes linked to front month

New York, Oct. 29 - Bank of America Corp. priced $12.88 million of 0% Capped Leveraged Index Return Notes due April 17, 2014 tied to front month futures contract for deliverable grade Brent crude oil, according to a 424B2 filing with the Securities and Exchange Commission.

If the Brent crude contract return is positive, the payout at maturity will be par plus 200% of the Brent crude contract return, subject to a maximum payout of par plus 44.4%. Investors will receive par if the Brent crude contract falls by up to 5% and will lose 1% for every 1% decline in the Brent crude contract beyond 5%.

Merrill Lynch & Co. is the underwriter.

Issuer:Bank of America Corp.
Issue:Capped Leveraged Index Return Notes
Underlying commodity:Front month futures contract for deliverable grade Brent crude oil
Amount:$12,879,830
Maturity:April 17, 2014
Coupon:0%
Price:Par
Payout at maturity:If Brent crude contract return is positive, par plus 200% of Brent crude contract return, subject to maximum payout of par plus 44.4%; par if Brent crude contract falls by up to 5%; 1% loss for every 1% decline beyond 5%
Initial index level:108.49
Pricing date:Oct. 25
Settlement date:Nov. 2
Underwriters:Merrill Lynch & Co.
Fees:2%
Cusip:06053D641

© 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.