Published on 10/30/2009 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $13.8 million Accelerated Return Notes linked to Nasdaq 100
By Angela McDaniels
Tacoma, Wash., Oct. 30 - Bank of America Corp. priced $13.8 million of 0% Accelerated Return Notes due Jan. 14, 2011 linked to the Nasdaq 100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, subject to a maximum return of 20.25%. Investors will be fully exposed to any index decline.
Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC are the underwriters.
Issuer: | Bank of America Corp.
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Issue: | Accelerated Return Notes
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Underlying index: | Nasdaq 100
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Amount: | $13.8 million
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Maturity: | Jan. 14, 2011
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus triple any index gain, up to maximum return of 20.25%; full exposure to any index decline
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Initial index level: | 1,682.06
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Final index level: | Average of index's closing levels on the five trading days ending Jan. 11, 2011
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Pricing date: | Oct. 28
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Settlement date: | Nov. 4
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Underwriters: | Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC
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Fees: | 2%
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