Published on 5/18/2012 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $5.71 million Stars linked to S&P 500
By Angela McDaniels
Tacoma, Wash., May 18 - Bank of America Corp. priced $5.71 million of 0% Strategic Accelerated Redemption Securities due May 29, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 15.05% if the index closes at or above the initial index level on Nov. 20, 2012, Feb. 19, 2013 or May 21, 2013.
If the notes are not called, investors will have one-to-one downside exposure to decreases in the index.
Bank of America Merrill Lynch is the agent.
Issuer: | Bank of America Corp.
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Issue: | Strategic Accelerated Redemption Securities
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Underlying index: | S&P 500
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Amount: | $5,714,000
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Maturity: | May 29, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | One-to-one downside exposure to decreases in index
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Call: | Automatically at par plus 15.05% per year if index closes at or above initial index level on Nov. 20, 2012, Feb. 19, 2013 or May 21, 2013
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Initial index level: | 1,324.8
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Pricing date: | May 16
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Settlement date: | May 23
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Agent: | Bank of America Merrill Lynch
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Fees: | 1.25%
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Cusip: | 06051R865
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