Published on 10/1/2012 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $10.01 million Mitts on four Asian currencies
By Marisa Wong
Madison, Wis., Oct. 1 - Bank of America Corp. priced $10.01 million of 0% Currency Market Index Target-Term Securities due Sept. 26, 2014 linked to a basket of Asian currencies, according to a 424B2 filing with the Securities and Exchange Commission.
The basket represents a long position in the Indian rupee, Indonesian rupiah, Malaysian ringgit and Philippine peso relative to the dollar.
The payout at maturity will be par of $10.00 plus 179% of any basket gain. If the basket value decreases, the payout will be par plus the basket return, subject to a minimum payout of $9.00 per note.
Bank of America Merrill Lynch is the underwriter.
Issuer: | Bank of America Corp.
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Issue: | Currency Market Index Target-Term Securities
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Underlying currencies: | Indian rupee, Indonesian rupiah, Malaysian ringgit and Philippine peso, relative to the dollar
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Amount: | $10,006,660
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Maturity: | Sept. 26, 2014
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | Par plus 179% of any basket gain; if basket value decreases, par plus basket return, subject to a minimum payout of $9.00 per note
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Initial spot rates: | 53.255 for rupee, 9,595 for rupiah, 3.077 for ringgit and 41.888 for peso
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Pricing date: | Sept. 27
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Settlement date: | Oct. 4
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Agent: | Bank of America Merrill Lynch
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Fees: | 1.75%
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Cusip: | 06053D351
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