By Angela McDaniels
Tacoma, Wash., June 3 - Bank of America Corp. priced $10 million of floating-rate notes due July 18, 2011 linked to the Dow Jones - UBS Energy Total Return subindex, according to an FWP filing with the Securities and Exchange Commission.
The interest rate is one-month Libor minus 25 basis points. It will be reset monthly and payable at maturity or upon redemption.
The payout at maturity will be par plus triple the sum of the index return minus an investor fee of 0.3% per year minus the Treasury rate charge, which is the sum of the 91-day weekly auction high rates for three-month U.S. Treasury bills for each day during the life of the notes.
The notes are putable at any time subject to a minimum principal amount of $100,000 and will be called if the index falls to or below 85% of its initial level. In either case, the payout will be calculated in the same way as at maturity.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Commodity-linked notes
|
| Underlying index: | Dow Jones - UBS Energy Total Return subindex
|
| Amount: | $10 million
|
| Maturity: | July 18, 2011
|
| Coupon: | One-month Libor minus 25 bps, reset monthly and payable at maturity
|
| Price: | Par
|
| Payout at maturity: | Par plus triple the sum of the index return minus an investor fee of 0.3% per year minus the Treasury rate charge
|
| Put option: | At any time subject to minimum of $100,000 of notes; payout determined in same way as at maturity
|
| Call: | Automatically if index falls to or below 85% of initial level; payout determined in same way as at maturity
|
| Pricing date: | June 2
|
| Settlement date: | June 9
|
| Underwriter: | Merrill Lynch, Pierce, Fenner & Smith Inc.
|
| Fees: | None
|
| Cusip: | 06048WCK4
|
© 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.
