New Issue: Bank of America sells $20.8 million Stars linked to S&P 500 index

By Jennifer Chiou

New York, Feb. 26 - Bank of America Corp. priced $20.8 million of 0% Strategic Accelerated Redemption Securities due Aug. 31, 2010 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at a premium of 8.16% per year if the index closes at or above its initial level the observation date, Aug. 24, 2010.

If the notes are not called, investors will share in any losses.

Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC are the underwriters.

Issuer:	Bank of America Corp.
Issue:	Strategic Accelerated Redemption Securities
Underlying index:	S&P 500
Amount:	$20.8 million
Maturity:	Aug. 31, 2010
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Exposure to any losses
Call:	At premium of 8.16% per year if index closes at or above initial level on Aug. 24, 2010
Initial index level:	1,105.24
Pricing date:	Feb. 24
Settlement date:	March 4
Underwriters:	Merrill Lynch, Pierce, Fenner & Smith Inc., First Republic Securities Co., LLC
Fees:	1%
Cusip:	06052H189

© 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.