By Jennifer Chiou
New York, Dec. 23 - Bank of America Corp. priced $11.53 million of 0% market-linked step up notes due Dec. 31, 2012 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the S&P 500 index with a 45% weight, the MSCI Emerging Markets index with a 27.5% weight and the MSCI EAFE index with a 27.5% weight.
If the final basket level is greater than or equal to the step level, the payout at maturity will be par of $10 plus the greater of 16.8% and the basket return. The step level is 116.8% of the initial basket level.
If the final basket level is greater than or equal to the initial level but less than the step level, the payout will be par.
Investors will be exposed to any basket decline.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Market-linked step up notes
|
| Underlying indexes: | S&P 500 index (45% weight), MSCI Emerging Markets index (27.5% weight) and MSCI EAFE index (27.5% weight)
|
| Amount: | $11,533,830
|
| Maturity: | Dec. 31, 2012
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final basket level is greater than or equal to step level, par plus greater of 16.8% and basket return; par if final basket level is greater than or equal to initial level but less than step level; exposure to any basket decline
|
| Initial index levels: | 1,254.60 for S&P 500; 1,124.34 for MSCI Emerging Markets index; 1,643.76 for MSCI EAFE
|
| Step level: | 116.8% of initial basket level
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 30
|
| Underwriter: | Merrill Lynch, Pierce, Fenner & Smith Inc.
|
| Fees: | 2%
|
| Cusip: | 06052R393
|
© 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.
