New Issue: Bank of America sells $11.16 million Accelerated Return Notes on China, Brazil basket

By Susanna Moon

Chicago, June 1 - Bank of America Corp. priced $11.16 million of 0% Accelerated Return Notes due July 29, 2011 based on a basket of two equally weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the FTSE/Xinhua China 25 index and the Bovespa index.

The payout at maturity will be par of $10.00 plus triple any gain in the basket, up to a maximum payout of $12.98 per note.

Investors will be exposed to any price 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 indexes:	FTSE/Xinhua China 25 index and Bovespa index, equally weighted
Amount:	$11,162,190
Maturity:	July 29, 2011
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any basket gain, capped at 29.8%; exposure to any losses
Initial index levels:	16,859.03 for FTSE/Xinhua China 25; 33,892.90 for Bovespa
Pricing date:	May 27
Settlement date:	June 4
Underwriters:	Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC
Fees:	2%
Cusip:	06052H882

© 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.