Published on 10/29/2012 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $16.44 million 90%-protected Mitts on the Dow
By Susanna Moon
Chicago, Oct. 29 - Bank of America Corp. priced $16.44 million of 0% Market Index Target-Term Securities due Oct. 26, 2018 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 any gain in the index.
If the index falls, the payout will be par plus the return with a minimum payout of 90% of par.
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: | $16,441,940
|
| Maturity: | Oct. 26, 2018
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus any index gain; if index falls, exposure to 10% of losses
|
| Initial level: | 13,103.68
|
| Pricing date: | Oct. 25
|
| Settlement date: | Nov. 2
|
| Underwriter: | Bank of America Merrill Lynch
|
| Fees: | 2.5%
|
| Cusip: | 06053D559
|
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