Published on 7/30/2012 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $20.63 million Accelerated Return Notes linked to PHLX Housing
By Susanna Moon
Chicago, July 30 - Bank of America Corp. priced $20.63 million of 0% Accelerated Return Notes due Sept. 27, 2013 linked to PHLX Housing Sector index, according to a 424B2 with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, up to a maximum return of 27.33%.
Investors will be exposed to any losses.
Bank of America Merrill Lynch will be the agent.
Issuer: | Bank of America Corp.
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Issue: | Accelerated Return Notes
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Underlying index: | PHLX Housing Sector
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Amount: | $20,627,180
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Maturity: | Sept. 27, 2013
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at 27.33%; exposure to any losses
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Initial level: | 135.70
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Pricing date: | July 26
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Settlement date: | Aug. 2
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Underwriter: | Bank of America Merrill Lynch
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Fees: | 2%
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Cusip: | 06051R535
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