Published on 2/26/2010 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $10.72 million Accelerated Return Notes linked to S&P MidCap 400
By Jennifer Chiou
New York, Feb. 26 - Bank of America Corp. priced $10.72 million of 0% Accelerated Return Notes due April 29, 2011 linked to the S&P MidCap 400 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 18.81%. Investors will be fully exposed to any index decline.
Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC are the underwriters.
| Issuer: | Bank of America Corp.
|
| Issue: | Accelerated Return Notes
|
| Underlying index: | S&P MidCap 400
|
| Amount: | $10.72 million
|
| Maturity: | April 29, 2011
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus triple any index gain, up to maximum return of 18.81%; full exposure to any index decline
|
| Initial index level: | 737.18
|
| Pricing date: | Feb. 24
|
| Settlement date: | March 4
|
| Underwriters: | Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC
|
| Fees: | 2%
|
| Cusip: | 06052H247
|
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