Published on 7/31/2009 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $44.9 million Mitts linked to Dow Jones - UBS Commodity index
By Angela McDaniels
Tacoma, Wash., July 31 - Bank of America Corp. priced $44.9 million of 0% Market Index Target-Term Securities due July 30, 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 127%. 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: | Dow Jones - UBS Commodity Index - Excess Return
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Amount: | $44.9 million
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Maturity: | July 30, 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 127%; floor of par
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Initial index level: | 119.476
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Pricing date: | July 29
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Settlement date: | July 31
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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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