By Angela McDaniels
Tacoma, Wash., Nov. 26 - Bank of America Corp. priced $1.2 million of 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 110% of the currency underperformance. Otherwise, the payout will be par.
Banc of America Securities LLC and Banc of America Investment Services, Inc. are the agents.
| Issuer: | Bank of America Corp.
|
| Issue: | Currency-linked notes
|
| Underlying currency: | Dollar versus Japanese yen
|
| Amount: | $1,202,000
|
| Maturity: | Nov. 28, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 110% of any gain in dollar versus yen; floor of par
|
| Initial exchange rate: | 96.65 yen per dollar
|
| Pricing date: | Nov. 24
|
| Settlement date: | Nov. 28
|
| Agents: | Banc of America Securities LLC and Banc of America Investment Services, Inc.
|
| Fees: | 2%
|
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