By Laura Lutz
Des Moines, June 27 - Bank of America priced a $53 million offering of 2.65% capital-protected equity performance linked securities due June 29, 2012 in the Basket Cycles structure linked to a basket of five indexes, according to a 424B5 filing with the Securities and Exchange Commission.
The basket includes the Dow Jones Industrial Average with a 63% weight, the S&P MidCap 400 index with a 10% weight, the Dow Jones Euro Stoxx 50 index with a 10% weight, the Nikkei 225 index with a 10% weight and the S&P SmallCap 600 index with a 7% weight.
Interest is payable semiannually.
The payout at maturity will be the average level of the basket on the five annual valuation dates minus the total of coupon payments over the life of the notes. There is a floor of par. The valuation dates will be June 26 of 2008, 2009, 2010, 2011 and 2012.
Banc of America Securities LLC and Banc of America Investment Services, Inc. are the agents.
| Issuer: | Bank of America
|
| Issue: | Capital-protected senior notes in the Basket Cycles structure
|
| Underlying indexes: | Dow Jones Industrial Average (63% weight), S&P MidCap 400 (10% weight), Dow Jones Euro Stoxx 50 (10% weight), Nikkei 225 (10% weight) and S&P SmallCap 600 (7% weight)
|
| Amount: | $53 million
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| Maturity: | June 29, 2012
|
| Coupon: | 2.65%, payable semiannually
|
| Price: | Par
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| Payout at maturity: | Par plus any increase in the average level of the basket over the total interest payment of 13.25%; floor of par
|
| Pricing date: | June 26
|
| Settlement date: | June 29
|
| Agents: | Banc of America Securities LLC, Banc of America Investment Services Inc.
|
| Fees: | 3%
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