Published on 10/3/2011 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $31.33 million capped leveraged index return notes on S&P 500
By Susanna Moon
Chicago, Oct. 3 - Bank of America Corp. priced $31.33 million of capped leveraged index return notes due Sept. 27, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any index gain, up to a maximum return of $15.184 per note.
Investors will receive par if the index falls by up to 10% and will be exposed to any decline beyond 10%.
Bank of America Merrill Lynch is the agent.
Issuer: | Bank of America Corp.
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Issue: | Capped leveraged index return notes
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Underlying index: | S&P 500
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Amount: | $31,330,970
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Maturity: | Sept. 27, 2013
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any index gain, capped at 51.84%; par if index falls up to 10%; exposure to losses beyond 10%
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Initial level: | 1,160.40
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Threshold value: | 1,044.36, 90% of initial value
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Pricing date: | Sept. 29
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Settlement date: | Oct. 6
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Agent: | Bank of America Merrill Lynch
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Fees: | 2%
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Cusip: | 06051N542
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