Bank of America to price Eagles linked to basket of 16 energy stocks

By Laura Lutz

Washington, Jan. 30 - Bank of America plans to price an issue of notes structured as Minimum Return Equity Appreciation Growth Linked Securities (Basket Eagles) due Feb. 24, 2012 linked to a basket of energy stocks, according to a 424B5 filing with the Securities and Exchange Commission.

The basket consists of equal weights of the common stocks of Anadarko Petroleum Corp., Apache Corp., Baker Hughes Inc., Chevron Corp., ConocoPhillips, Ensco International Inc., Exxon Mobil Corp., Halliburton Co., Marathon Oil Corp., Nabors Industries Ltd., Noble Crop., Occidental Petroleum Corp., Schlumberger Ltd., Transocean Inc., Weatherford International Ltd. and XTO Energy Inc.

The notes are expected to price on Feb. 20.

The payout at maturity will be par plus the return on the index during each of the 20 three-month periods making up the life of the notes. The return in each period will be capped at between 6% and 8%, with the exact cap to be determined at pricing. The minimum payout at maturity will be par plus 5%.

Banc of America Securities LLC and Banc of America Investment Services Inc. will be the agents for the offering and will receive a 3% commission.

© 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.