Published on 5/29/2012 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $37.71 million Leveraged Index Return Notes linked to S&P 500
By Susanna Moon
Chicago, May 29 - Bank of America Corp. priced $37.71 million of 0% Leveraged Index Return Notes due May 29, 2015 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 plus 163.5% of any index gain.
Investors will receive par if the index falls by up to 10% and will be exposed to any losses beyond 10%.
Bank of America Merrill Lynch is the agent.
Issuer: | Bank of America Corp.
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Issue: | Leveraged Index Return Notes
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Underlying index: | S&P 500
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Amount: | $37,714,120
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Maturity: | May 29, 2015
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 163.5% of any index gain; par if index falls by 10% or less; 1% loss per 1% drop beyond 10%
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Initial level: | 1,320.68
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Threshold level: | 1,188.61, 90% of initial level
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Pricing date: | May 24
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Settlement date: | June 1
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Agent: | Bank of America Merrill Lynch
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Fees: | 2.25%
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Cusip: | 06051R147
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