Published on 1/18/2011 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $103.55 million Mitts tied to Dow Industrials
By Jennifer Chiou
New York, Jan. 18 - Bank of America Corp. priced $103.55 million of 0% Market Index Target-Term Securities due Jan. 29, 2016 linked to the Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 plus 107.05% of any index gain. If the index falls, the payout will be par.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Market Index Target-Term Securities
|
| Underlying index: | Dow Jones Industrial Average
|
| Amount: | $103,553,810
|
| Maturity: | Jan. 29, 2016
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 107.05% of any index gain; floor of par
|
| Initial index level: | 11,731.90
|
| Pricing date: | Jan. 13
|
| Settlement date: | Jan. 18
|
| Underwriter: | Merrill Lynch, Pierce, Fenner & Smith Inc.
|
| Fees: | 2.5%
|
| Cusip: | 06052R500
|
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