Published on 6/25/2009 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $47.05 million Mitts linked to Dow Jones - UBS Commodity index
By Angela McDaniels
Tacoma, Wash., June 25 - Bank of America Corp. priced $47.05 million of 0% Market Index Target-Term Securities due June 28, 2013 linked to the Dow Jones - UBS Commodity Index - Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus any index gain, up to a maximum return of 160.1%. Investors will receive at least par.
Merrill Lynch, Pierce, Fenner & Smith Inc., First Republic Securities Co., LLC and Banc of America Investment Services, Inc. are the agents.
Issuer: | Bank of America Corp.
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Issue: | Market Index Target-Term Securities
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Underlying index: | S&P 500
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Amount: | $47.05 million
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Maturity: | June 28, 2013
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus any index gain, up to maximum return of 160.1%; floor of par
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Initial index level: | 123.338
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Pricing date: | June 24
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Settlement date: | June 26
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Agents: | Merrill Lynch, Pierce, Fenner & Smith Inc., First Republic Securities Co., LLC and Banc of America Investment Services, Inc.
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Fees: | 2.5%
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