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Bank of America plans one-year callable Stars on iShares MSCI EAFE
By Susanna Moon
Chicago, May 10 - Bank of America Corp. plans to price 0% Strategic Accelerated Redemption Securities due May 2013 linked to the iShares MSCI EAFE 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 7.5% to 9.5% if the notes are called in November 2012, 11.25% to 14.25% if called in February 2013 and 15% to 19% if called in May 2013.
If the notes are not called, the payout at maturity will be par unless the shares fall, in which case investors will be exposed to any losses.
Bank of America Merrill Lynch is the underwriter.
The notes will price and settle in May.
The exact deal terms will be set at pricing.
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