Published on 10/31/2011 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $17.97 million 90%-protected Mitts on the Dow
By Susanna Moon
Chicago, Oct. 31 - Bank of America Corp. priced $17.97 million of 0% Market Index Target-Term Securities due Oct. 31, 2014 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 102.5% of any index gain.
If the index falls, investors will be exposed to up to 10% of the losses.
Bank of America Merrill Lynch is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Market Index Target-Term Securities
|
| Underlying index: | Dow Jones industrial average
|
| Amount: | $17,973,100
|
| Maturity: | Oct. 31, 2014
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 102.5% of index gain; floor of 90% of par
|
| Initial index level: | 12,208.55
|
| Pricing date: | Oct. 27
|
| Settlement date: | Nov. 3
|
| Underwriter: | Bank of America Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06051N732
|
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