By Angela McDaniels
Tacoma, Wash., Nov. 30 - Bank of America Corp. priced $15.48 million of 0% Currency Market Index Target-Term Securities due Nov. 30, 2011 linked to the Brazilian real and Chinese yuan, according to a 424B2 filing with the Securities and Exchange Commission.
The currencies are equally weighted in the basket.
If the basket appreciates relative to the dollar, the payout at maturity will be par of $10.00 plus 500% of the increase, subject to a maximum return of 19.25%.
If the basket depreciates relative to the dollar, the payout will be par minus the decline, subject to a minimum payout of $9.50 per note.
Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC are the underwriters.
| Issuer: | Bank of America Corp.
|
| Issue: | Currency Market Index Target-Term Securities
|
| Underlying currencies: | Brazilian real and Mexican peso, equally weighted
|
| Amount: | $15.48 million
|
| Maturity: | Nov. 30, 2011
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 500% of any basket gain, up to maximum return of 19.25%; par minus any basket decline, up to maximum loss of 5%
|
| Initial exchange rates: | 1.7282 reais per dollar; 12.9195 pesos per dollar
|
| Pricing date: | Nov. 24
|
| Settlement date: | Dec. 2
|
| Underwriters: | Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC
|
| Fees: | 1.75%
|
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