By Angela McDaniels
Tacoma, Wash., March 3 - Bank of America Corp. released further details about its $7.7 million of floating-rate commodity-linked notes due April 2, 2012 linked to the Dow Jones - UBS Commodity Index Total Return in a 424B2 filing with the Securities and Exchange Commission on Thursday.
The initial index level is 335.5938, and the Cusip is 06048WFP0.
As previously reported, the coupon is one-month Libor minus 25 basis points. It will be reset monthly and payable at maturity.
The payout at maturity or upon redemption will be par plus triple the sum of the index return minus the Treasury bill yield less a fee of 0.27% per year.
The notes are putable at any time, subject to a minimum of $100,000, and they will be called if the index closes at 15% or more below its initial level.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Commodity-linked notes
|
| Underlying index: | Dow Jones - UBS Commodity Index Total Return
|
| Amount: | $7.7 million
|
| Maturity: | April 2, 2012
|
| Coupon: | One-month Libor minus 25 bps, payable at maturity
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of sum of index return minus the T-bill yield less fee of 0.27% per year
|
| Put option: | At any time subject to minimum of $100,000
|
| Call: | Automatically if index closes at 85% of its initial level or below
|
| Initial index level: | 335.5938
|
| Pricing date: | March 1
|
| Settlement date: | March 8
|
| Agent: | Merrill Lynch, Pierce, Fenner & Smith Inc.
|
| Fees: | None
|
| Cusip: | 06048WFP0
|
© 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.
