Published on 11/26/2012 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $6.88 million Capped Leveraged Index Return Notes on Brent crude
New York, Nov. 26 - Bank of America Corp. priced $6.88 million of 0% Capped Leveraged Index Return Notes due May 19, 2014 tied to the 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 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 40.05%. Investors will receive par if the price of Brent crude falls by up to 5% and will lose 1% for every 1% decline in Brent crude beyond 5%.
Bank of America Merrill Lynch is the underwriter.
Issuer: | Bank of America Corp.
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Issue: | Capped Leveraged Index Return Notes
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Underlying asset: | Brent crude oil
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Amount: | $6,884,500
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Maturity: | May 19, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If Brent crude is positive, par plus 200% of return, subject to maximum payout of par plus 40.05%; par if Brent crude falls by up to 5%; 1% loss for every 1% decline beyond 5%
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Initial level: | 109.83
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Pricing date: | Nov. 20
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Settlement date: | Nov. 28
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Underwriter: | Bank of America Merrill Lynch
|
Fees: | 2%
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Cusip: | 06053D807
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