Published on 3/27/2008 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $3.67 million 0% notes linked to three currencies
By Angela McDaniels
Tacoma, Wash., March 27 - Bank of America Corp. priced $3.67 million of 0% return linked notes due March 28, 2011 linked to a basket of currencies, according to a 424B5 filing with the Securities and Exchange Commission.
The basket includes equal weights of the U.S. dollar/Canadian dollar exchange rate, the U.S. dollar/Japanese yen exchange rate and the euro/U.S. dollar exchange rate.
If the final basket level is less than the initial basket level, the payout at maturity will be par plus the absolute value of the basket decline. 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.
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Issue: | Return linked notes
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Underlying currencies: | U.S. dollar/Canadian dollar, U.S. dollar/Japanese yen and euro/U.S. dollar exchange rates, equally weighted
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Amount: | $3,669,000
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Maturity: | March 28, 2011
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus the absolute value of any basket decline; floor of par
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Initial exchange rates: | 1.0182 Canadian dollars per U.S. dollar, 100.15 yen per U.S. dollar, 1.559 U.S. dollars per euro
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Pricing date: | March 25
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Settlement date: | March 28
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Agents: | Banc of America Securities LLC and Banc of America Investment Services, Inc.
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Fees: | 2%
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