Published on 8/24/2006 in the Prospect News Convertibles Daily.
New Issue: Bank of America prices $7 million 0% Steepls linked to Nasdaq 100
By Jennifer Chiou
New York, Aug. 24 - Bank of America priced a $7 million offering of 0% unsecured senior notes in the Strategic Equity Exposure Performance Linked Securities (Steepls) structure due Feb. 25, 2008 linked to the Nasdaq 100 index, according to a 424B5 filing with the Securities and Exchange Commission.
At maturity, investors will receive triple the gain on the index, capped at 20%. Investors will share in any losses.
| Issuer: | Bank of America
|
| Issue: | Senior notes in the Steepls structure
|
| Underlying index: | Nasdaq 100
|
| Amount: | $7 million
|
| Maturity: | Feb. 25, 2008
|
| Coupon: | 0% per year
|
| Price: | Par
|
| Payout at maturity: | Triple the gain on the index, capped at 20%; investors will share in any losses
|
| Pricing date: | Aug. 23
|
| Settlement date: | Aug. 25
|
| Agents: | Banc of America Securities LLC, Banc of America Investment Services Inc.
|
|
|
© 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.
