Published on 7/2/2012 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $41 million Accelerated Return Notes on S&P 500
By Susanna Moon
Chicago, July 2 - Bank of America Corp. priced $41 million of 0% Accelerated Return Notes due June 30, 2014 linked to S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, up to a maximum return of $12.775 per note.
Investors will be exposed to any losses.
Bank of America Merrill Lynch will be the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Accelerated Return Notes
|
| Underlying index: | S&P 500
|
| Amount: | $40,996,290
|
| Maturity: | June 30, 2014
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 300% of any index gain, capped at 27.75%; exposure to any losses
|
| Initial level: | 1,329.04
|
| Pricing date: | June 28
|
| Settlement date: | July 6
|
| Underwriter: | Bank of America Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06051R311
|
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