Published on 2/28/2012 in the Prospect News Structured Products Daily.
New Issue: Bank of America sells $23.98 million capped leveraged notes tied to Rogers Commodity
By Susanna Moon
Chicago, Feb. 28 - Bank of America Corp. priced $23.98 million of Capped Leveraged Index Return Notes due Feb. 24, 2014 linked to the Rogers International Commodity Index - Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 plus double any gain in the index, up to a maximum payment of $12.70 per $10.00 principal amount.
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.
|
Issue: | Capped Leveraged Index Return Notes
|
Underlying index: | Rogers International Commodity Index - Excess Return
|
Amount: | $23,978,780
|
Maturity: | Feb. 24, 2014
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus 200% of any index gain, capped at 27%; par if index falls by up to 10%, exposure to losses beyond 10%
|
Initial level: | 2,933.62
|
Threshold level: | 2,640.26, 90% of initial level
|
Pricing date: | Feb. 23
|
Settlement date: | March 1
|
Agent: | Bank of America Merrill Lynch
|
Fees: | 2%
|
Cusip: | 06051P539
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.