By Susanna Moon
Chicago, May 29 - Bank of America Corp. priced $45.05 million of 0% Leveraged Index Return Notes due June 1, 2012 linked to the S&P 500 index, according to a 424B3 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 135% of any index gain.
Investors will receive par if the index falls by up 10% and will lose 1% for every 1% decline beyond 10%.
Merrill Lynch & Co., First Republic Securities Co., LLC and Banc of America Investment Services, Inc. are the agents.
The issuer said it applied to list the notes on the NYSE Arca under the symbol "SZE."
| Issuer: | Bank of America Corp.
|
| Issue: | Leveraged Index Return Notes
|
| Underlying index: | S&P 500
|
| Amount: | $45.05 million
|
| Maturity: | June 1, 2012
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 135% of any index gain; par if the basket declines by 10% or less; exposure to any losses beyond 10%
|
| Initial index level: | 893.06
|
| Threshold level: | 803.75, 90% of initial level
|
| Pricing date: | May 27
|
| Settlement date: | June 5
|
| Underwriters: | Merrill Lynch & Co. and First Republic Securities Co., LLC
|
| Fees: | 2.25%
|
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