Published on 6/26/2008 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $33.2 million buffered Steepls linked to five indexes
By Angela McDaniels
Tacoma, Wash., June 26 - Bank of America Corp. priced $33.2 million of 0% buffered Strategic Equity Exposure Performance Linked Securities due June 28, 2010 linked to a basket of indexes, according to a 424B5 filing with the Securities and Exchange Commission.
The basket includes the Dow Jones Industrial Average with a 68% weight, the S&P MidCap 400 index with a 10% weight, the Dow Jones Euro Stoxx 50 and Nikkei 225 indexes, each with a 7.5% weight, and the S&P SmallCap 600 index with a 7% weight.
The payout at maturity will be par plus 200% of any basket gain, subject to a maximum return of 20.5%. Investors will receive par if the basket declines by 10% or less and will lose 1% for every 1% decline beyond 10%.
Banc of America Securities LLC and Bank of America Investment Services, Inc. are the agents.
| Issuer: | Bank of America Corp.
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| Issue: | Buffered Strategic Equity Exposure Performance Linked Securities
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| Underlying indexes: | Dow Jones Industrial Average (68% weight), S&P MidCap 400 (10% weight), Dow Jones Euro Stoxx 50 (7.5% weight), Nikkei 225 (7.5% weight) and S&P SmallCap 600 (7% weight)
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| Amount: | $33.2 million
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| Maturity: | June 28, 2010
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus double any basket gain, capped at 20.5% maximum return; par if basket falls by 10% or less; 1% loss for every 1% decline beyond 10%
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| Initial index levels: | 11,811.83 for Dow Industrials; 849.13 for S&P MidCap 400; 3,460.40 for Euro Stoxx 50; 13,829.92 for Nikkei 225; 378.96 for S&P SmallCap 600
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| Final index levels: | For each index, the average of its closing levels on June 18, June 21 and June 22 of 2010
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| Pricing date: | June 25
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| Settlement date: | June 27
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| Agents: | Banc of America Securities LLC and Bank of America Investment Services, Inc.
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| Fees: | 1.75%
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