By E. Janene Geiss
Philadelphia, May 28 - Bank of America priced a $13.35 million offering of 0% Capped Leveraged Index Return Notes due June 3, 2011 linked to the Merrill Lynch Commodity index eXtra Brent 4-Series Index - Excess Return, according to a 424B filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any index gain, up to a maximum return of 40.11%.
Investors are fully exposed to any index decline.
The index is a modified version of the Merrill Lynch Commodity index eXtra that provides long-only exposure to Brent crude oil futures contracts, which are rolled over from third-month contracts into fourth-month contracts as they approach expiration.
Merrill Lynch, Pierce, Fenner & Smith Inc. and its affiliate First Republic Securities Co., LLC are the underwriters.
| Issuer: | Bank of America
|
| Issue: | Capped leveraged index return notes
|
| Underlying index: | Merrill Lynch Commodity index eXtra Brent 4-Series Index - Excess Return
|
| Amount: | $13.35 million
|
| Maturity: | June 3, 2011
|
| Coupon: | 0% |
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus double any index gain, capped at 40.11%; full exposure to any decline
|
| Initial index level: | 740.3869
|
| Pricing date: | May 26
|
| Settlement date: | June 2
|
| Agents: | Merrill Lynch, Pierce, Fenner & Smith Inc., First Republic Securities Co., LLC
|
| Fees: | 2%
|
© 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.
