Published on 6/27/2011 in the Prospect News Structured Products Daily.
New Issue: BofA prices $46.5 million Accelerated Return Notes on Russell 2000
By Toni Weeks
San Diego, June 27 - Bank of America Corp. priced $46.5 million of 0% Accelerated Return Notes due Aug. 31, 2012 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 plus triple any gain in the index, capped at 22.02%.
Investors will be fully exposed to losses.
Bank of America Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Accelerated Return Notes
|
| Underlying index: | Russell 2000
|
| Amount: | $46,503,880
|
| Maturity: | Aug. 31, 2012
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 300% of any index gain, capped at 22.02%; exposure to losses
|
| Initial level: | 802.68
|
| Pricing date: | June 23
|
| Settlement date: | July 1
|
| Underwriter: | Bank of America Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06050R767
|
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