By Susanna Moon
Chicago, Nov. 2 - Bank of America Corp. priced $60 million of 0% Capped Leveraged Index Return Notes due Nov. 1, 2011 linked to the gold spot price, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any gain in the gold spot price, up to a maximum return of 31.6%.
Investors will receive par if the price falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
Merrill Lynch & Co. and First Republic Securities Co., LLC are the agents.
| Issuer: | Bank of America Corp.
|
| Issue: | Capped Leveraged Index Return Notes
|
| Underlying commodity: | Gold
|
| Amount: | $60 million
|
| Maturity: | Nov. 1, 2011
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus double any increase in the gold spot price, capped at 31.6%; par if price declines by 10% or less; 1% loss for every 1% decline beyond 10%
|
| Initial gold spot price: | $1,040.50
|
| Pricing date: | Oct. 29
|
| Settlement date: | Nov. 5
|
| Agents: | Merrill Lynch & Co. and First Republic Securities Co., LLC
|
| Fees: | 2%
|
© 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.
