Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for Bank of America Corp. > News item |
Bank of America to sell Accelerated Return Notes linked to S&P 500
By Jennifer Chiou
New York, April 22 - Bank of America Corp. plans to price 0% Accelerated Return Notes due July 2010 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, with the return capped at between 15% and 19%. The exact cap will be set at pricing.
Investors will be exposed to any losses.
The notes are expected to price in May and settle in June.
The issuer said it may apply to list the notes on the NYSE Arca under the symbol "SMC."
Merrill Lynch, Pierce, Fenner & Smith Inc. and its affiliate First Republic Securities Co., LLC are the underwriters.
© 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.