Bank of America to price buffered Steeples linked to MSCI EAFE

By Angela McDaniels

Tacoma, Wash., May 5 - Bank of America Corp. plans to price 0% buffered Strategic Equity Exposure Performance Linked Securities (Steepls) due June 1, 2010 linked to the MSCI EAFE index, according to a 424B5 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any index gain, subject to a maximum return that is expected to be 18% to 22% and will be set at pricing. Investors will receive par if the index declines by 10% or less and will lose 1% for each 1% decline beyond 10%.

The notes will price and settle in May.

Banc of America Securities LLC and Banc of America Investment Services, Inc. will be 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.