Published on 10/30/2009 in the Prospect News Structured Products Daily.
New Issue: Bank of America sells $6.6 million Accelerated Return Notes on Dow Jones-UBS Commodity
By Susanna Moon
Chicago, Oct. 30 - Bank of America Corp. priced $6.6 million of 0% Accelerated Return Notes due Nov. 4, 2011 linked to the Dow Jones - UBS Commodity 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, up to a maximum return of 51.5%.
Investors will be exposed to any index decline.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Accelerated Return Notes
|
| Underlying index: | Dow Jones - UBS Commodity
|
| Amount: | $6.6 million
|
| Maturity: | Nov. 4, 2011
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus triple any index gain, capped at 51.5%; exposure to losses
|
| Initial index level: | 131.6834
|
| Pricing date: | Oct. 28
|
| Settlement date: | Nov. 4
|
| Underwriter: | Merrill Lynch, Pierce, Fenner & Smith Inc.
|
| Fees: | None
|
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