New Issue: Bank of America prices $8.86 million Stars linked to S&P 500 via Merrill

By Jennifer Chiou

New York, June 25 - Bank of America Corp. priced $8.86 million of 0% Strategic Accelerated Redemption Securities due Dec. 27, 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 par plus an annualized premium of 9.79% if the index closes at or above its initial level on the Dec. 17, 2010 observation date.

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:	$8,859,470
Maturity:	Dec. 27, 2010
Coupon:	0%
Price:	Par of $10
Call:	At 9.79% premium if index closes at or above initial level on the Dec. 17, 2010 observation date
Payout at maturity:	Exposure to any losses
Initial index level:	1,073.69
Pricing date:	June 24
Settlement date:	July 2
Underwriters:	Merrill Lynch, Pierce, Fenner & Smith Inc., First Republic Securities Co., LLC
Fees:	1%
Cusip:	06052K166

© 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.