Published on 11/1/2011 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $19.31 million Accelerated Return Notes linked to Technology index
By Angela McDaniels
Tacoma, Wash., Nov. 1 - Bank of America Corp. priced $19.31 million of 0% Accelerated Return Notes due Jan. 11, 2013 linked to the Technology Select Sector index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, subject to a maximum return of 26%. Investors will be fully exposed to any index decline.
Bank of America Merrill Lynch is the underwriter.
Issuer: | Bank of America Corp.
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Issue: | Accelerated Return Notes
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Underlying index: | Technology Select Sector index
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Amount: | $19,308,030
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Maturity: | Jan. 11, 2013
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any increase in index, up to maximum return of 26%; full exposure to index's decline, if any
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Initial index level: | 264.42
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Final index level: | Average of index's closing levels on the five trading days ending Jan. 8, 2013
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Pricing date: | Oct. 27
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Settlement date: | Nov. 3
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Underwriter: | Bank of America Merrill Lynch
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Fees: | 2%
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Cusip: | 06051N633
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