Published on 9/27/2005 in the Prospect News Convertibles Daily.
New Issue: Bank of America sells $30 million Eagles linked to basket of energy stocks
By Jennifer Chiou
New York, Sept. 27 - Bank of America priced $30 million 0% Minimum Return Equity Appreciation Growth LinkEd Securities or Basket Eagles due Sept. 29, 2010 linked to a basket of 16 energy stocks, according to a 424B5 filing with the Securities and Exchange Commission.
The equally weighted stocks are Apache Corp., BJ Services Co., Burlington Resources Inc., Cal Dive International, Inc., Chevron Corp., ConocoPhillips, Devon Energy Corp., Diamond Offshore Drilling, Inc., Exxon Mobil Corp., GlobalSantaFe Corp., Halliburton Co., Noble Corp., Occidental Petroleum Corp., Tidewater Inc., Transocean Inc. and Valero Energy Corp.
At maturity, the payout is par plus a supplemental redemption amount of at least 5% of the principal amount of notes, based on the performance of the 16 energy-stock basket in 20 three-month periods making up the life of the bond. The return in each three-month period is capped at 7.10%.
| Issuer: | Bank of America
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| Issue: | Minimum Return Equity Appreciation Growth LinkEd Securities (Basket Eagles)
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| Underlying basket: | Equally weighted Apache Corp., BJ Services Co., Burlington Resources Inc., Cal Dive International, Inc., Chevron Corp., ConocoPhillips, Devon Energy Corp., Diamond Offshore Drilling, Inc., Exxon Mobil Corp., GlobalSantaFe Corp., Halliburton Co., Noble Corp., Occidental Petroleum Corp., Tidewater Inc., Transocean Inc., Valero Energy Corp.
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| Amount: | $30 million
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| Coupon: | 0%
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| Maturity: | Sept. 29, 2010
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| Price: | Par
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| Payout at maturity: | Par plus a supplemental redemption amount of at least 5% of the principal amount of notes, based on the performance of the basket in 20 three-month periods; return in each three-month period is capped at 7.10%
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| Pricing date: | Sept. 23
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| Settlement date: | Sept. 29
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| Listing: | "BOA.Z" on American Stock Exchange
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| Agents: | Banc of America Securities LLC, Banc of America Investment Services, Inc.
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