Bank of America to price 0% notes linked to dollar versus yen

By Angela McDaniels

Tacoma, Wash., Nov. 17 - Bank of America Corp. plans to price 0% notes due Nov. 28, 2011 linked to the performance of the dollar relative to the Japanese yen, according to a 424B5 filing with the Securities and Exchange Commission.

The payout at maturity will be based on the currency underperformance, which is the percentage change between the initial exchange rate and the final exchange rate. A positive currency underperformance means the dollar has strengthened relative to the yen.

If the currency underperformance is positive, then the payout at maturity will be par plus the currency underperformance multiplied by a participation rate of at least 100% that will be set at pricing. Otherwise, the payout will be par.

The notes are expected to price on Nov. 24 and settle on Nov. 28.

Banc of America Securities LLC and Banc of America Investment Services, Inc. are the agents.

© 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.