E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 12/24/2009 in the Prospect News Structured Products Daily.

New Issue: Bank of America sells $61.25 million 0% Mitts linked to MSCI World index

By E. Janene Geiss

Philadelphia, Dec. 24 - Bank of America priced $61.25 million of 0% Market Index Target-Term Securities due Jan. 14, 2015 linked to the MSCI World index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus any index gain, up to a cap of 61.5%.

Investors will receive a minimum payout of at least $10.00 per note.

Merrill Lynch, Pierce, Fenner & Smith Inc., First Republic Securities Co., LLC and Banc of America Investment Services, Inc. are the agents.

Issuer:Bank of America
Issue:Market Index Target-Term Securities
Underlying index:MSCI World index
Amount:$61.25 million
Maturity:Jan. 14, 2015
Coupon:0%
Price:Par of $10
Payout at maturity:Par plus any index gain, capped at 61.5%; floor of par
Initial level:1,159.32
Pricing date:Dec. 22
Settlement date:Dec. 30
Agent:Merrill Lynch, Pierce, Fenner & Smith Inc., First Republic Securities Co., LLC and Banc of America Investment Services, Inc.
Fees:2.5%

© 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.