Published on 10/20/2008 in the Prospect News Structured Products Daily.
New Issue: Bank of America sells $3 million 0% Eagles linked to four indexes, ETF
By Susanna Moon
Chicago, Oct. 20 - Bank of America priced $3 million of 0% Minimum Return Equity Appreciation Growth Linked Securities due Oct. 22, 2013 linked to a basket of four indexes and an exchange-traded fund, according to a 424B5 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 60% weight, the Nasdaq 100 index with a 10% weight, the iShares MSCI EAFE index fund with a 15% weight, the S&P MidCap 400 index with a 10% weight and S&P SmallCap 600 index with a 5% weight.
Payout at maturity will be par plus the compounded value of the basket returns during the 20 three-month periods making up the life of the notes. The return in each period will be capped at 9.5%, and the minimum payout at maturity will be par plus 5%.
Banc of America Securities LLC and Banc of America Investment Services, Inc. are the agents.
| Issuer: | Bank of America
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| Issue: | Minimum Return Equity Appreciation Growth Linked Securities
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| Underlying basket: | S&P 500 index (60% weight), Nasdaq 100 index (10% weight), iShares MSCI EAFE index fund (15% weight), S&P MidCap 400 index (10% weight) and S&P SmallCap 600 index (5% weight)
|
| Amount: | $3 million
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| Maturity: | Oct. 22, 2013
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus index return in 24 three-month periods, capped at 9.5% per period; floor of par plus 5%
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| Initial levels: | 940.55 for S&P 500; 1,311.72 for Nasdaq; $44.51 for MSCI EAFE; 555.01 for S&P MidCap; 282.33 for S&P SmallCap
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| Pricing date: | Oct. 17
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| Settlement date: | Oct. 22
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| Agents: | Banc of America Securities LLC, Banc of America Investment Services, Inc.
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| Fees: | 3%
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