Published on 1/27/2011 in the Prospect News Structured Products Daily.
New Issue: Bank of America sells $20 million Mitts tied to Dow Jones-UBS Commodity
By Susanna Moon
Chicago, Jan. 27 - Bank of America Corp. priced $20 million of 0% Market Index Target-Term Securities due Feb. 2, 2016 based on the Dow Jones-UBS Commodity Index - Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 plus any gain in the index, up to a maximum of $16.95 per note.
If the index falls, the payout will be par.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the underwriter.
Issuer: | Bank of America Corp.
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Issue: | Market Index Target-Term Securities
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Underlying index: | Dow Jones-UBS Commodity Index - Excess Return
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Amount: | $20 million
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Maturity: | Feb. 2, 2016
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus any index gain, capped at 69.5%; floor of par
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Initial level: | 158.1179
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Pricing date: | Jan. 25
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Settlement date: | Feb. 4
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Underwriter: | Merrill Lynch, Pierce, Fenner & Smith Inc.
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Fees: | 2.5%
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Cusip: | 06052R633
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