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Bank of America plans one-year Stars linked to iShares MSCI Brazil
By Susanna Moon
Chicago, Feb. 24 - Bank of America Corp. plans to price 0% Strategic Accelerated Redemption Securities due March 2013 linked to the iShares MSCI Brazil index fund, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at a premium if the fund closes at or above the initial level on any of three call dates. The call premium will be 5% to 7% if the notes are called in September 2012, 7.5% to 10.5% if called in December 2012 and 10% to 14% if called in March 2013.
If the notes are not called, the payout at maturity will be par if the shares fall by up to 10%.
Investors will be exposed to any losses beyond 10%.
Bank of America Merrill Lynch is the underwriter.
The notes will price and settle in March.
The exact deal terms will be set at pricing.
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