Published on 8/12/2010 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $4.49 million Mitts linked to index basket
By Angela McDaniels
Tacoma, Wash., Aug. 12 - Bank of America Corp. priced $4.49 million of 0% Market Index Target-Term Securities due Aug. 19, 2015 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the S&P 500 index with a 50% weight, the MSCI EAFE index with a 30% weight, the MSCI Emerging Markets index with a 10% weight and the S&P BRIC 40 index with a 10% weight.
The payout at maturity will be par of $10 plus the basket return, subject to a minimum payout of $9 and a maximum payout of $18 per note.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the underwriter.
Issuer: | Bank of America Corp.
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Issue: | Market Index Target-Term Securities
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Underlying indexes: | S&P 500 (50% weight), MSCI EAFE (30% weight), MSCI Emerging Markets (10% weight) and S&P BRIC 40 (10% weight)
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Amount: | $4,488,000
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Maturity: | Aug. 19, 2015
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus basket return, with floor of $9 and cap of $18 per note
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Initial index levels: | 1,121.06 for S&P 500; 1,505.14 for MSCI EAFE; 1,001.70 for MSCI Emerging Markets; 2,513.60 for S&P BRIC 50
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Final levels: | For each index, the average of its closing levels on the five trading days ending Aug. 14, 2015
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Pricing date: | Aug. 10
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Settlement date: | Aug. 17
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Underwriter: | Merrill Lynch, Pierce, Fenner & Smith Inc.
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Fees: | 2.5%
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Cusip: | 06052K612
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