Published on 12/21/2006 in the Prospect News Structured Products Daily.
New Issue: Bank of America sells $10.6 million Eagles linked to Dow Jones Industrials
By Jennifer Chiou
New York, Dec. 21 - Bank of America priced $10.6 million 0% Minimum Return Equity Appreciation Growth LinkEd Securities (Index Eagles) due Dec. 27, 2011 linked to the performance of the Dow Jones Industrial Average, according to a 424B5 filing with the Securities and Exchange Commission.
The payout at maturity is dependent on the performance of the index in the 20 three-month periods making up the life of the bond. The return in each period is capped at 7%. The minimum payout at maturity is par plus 5%.
Issuer: | Bank of America
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Issue: | Minimum Return Equity Appreciation Growth LinkEd Securities (Index Eagles)
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Underlying index: | Dow Jones Industrial Average
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Amount: | $10.6 million
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Maturity: | Dec. 27, 2011
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Coupon: | 0%
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Price: | Par
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Initial index level: | 12,463.87
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Payout at maturity: | Par plus return of index in 20 three-month periods; maximum gain in each period is 7%; minimum payout at maturity is par plus 5%
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Pricing date: | Dec. 20
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Settlement date: | Dec. 22
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Listing: | "BOR.T" on American Stock Exchange
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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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