Published on 11/28/2011 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $11.03 million capped leveraged notes on Dow Jones real estate
New York, Nov. 28 - Bank of America Corp. priced $11.03 million of capped leveraged index return notes due May 31, 2013 linked to the Dow Jones U.S. Real Estate index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any index gain, up to a maximum return of $14.81 per note.
Investors will receive par if the index falls by up to 10% and will be exposed to any decline beyond 10%.
Bank of America Merrill Lynch is the agent.
Issuer: | Bank of America Corp.
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Issue: | Capped leveraged index return notes
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Underlying index: | Dow Jones U.S. Real Estate index
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Amount: | $11,025,160
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Maturity: | May 31, 2013
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any index gain, capped at 48.10%; par if index falls up to 10%; exposure to losses beyond 10%
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Initial level: | 204.55
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Threshold value: | 184.10, 90% of initial value
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Pricing date: | Nov. 22
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Settlement date: | Nov. 30
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Agent: | Bank of America Merrill Lynch
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Fees: | 2%
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Cusip: | 06051P182
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