New Issue: Bank of America sells $31.5 million Accelerated Return Notes tied to S&P 500

By Jennifer Chiou

New York, May 29 - Bank of America Corp. priced $31.5 million of 0% Accelerated Return Notes due July 30, 2010 linked to the S&P 500 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 17.4%. Investors will be fully exposed to any index decline.

Merrill Lynch & Co. and First Republic Securities Co., LLC are the underwriters.

Issuer:	Bank of America Corp.
Issue:	Accelerated Return Notes
Underlying index:	S&P 500
Amount:	$31.5 million
Maturity:	July 30, 2010
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus triple any index gain, up to maximum return of 17.4%; full exposure to any index decline
Initial index level:	893.06
Pricing date:	May 27
Settlement date:	June 5
Underwriters:	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.