Published on 2/14/2011 in the Prospect News Structured Products Daily.
New Issue: BofA prices $9.81 million variable coupon notes linked to 16 stocks
By Jennifer Chiou
New York, Feb. 14 - Bank of America Corp. priced $9.81 million of variable coupon notes due Feb. 17, 2016 linked to a basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes American Express Co., Apple Inc., Barrick Gold Corp., Cisco Systems, Inc., Citigroup Inc., Halliburton Co., Home Depot Inc., Kraft Foods Inc., Las Vegas Sands Corp., Qualcomm, Inc., SanDisk Corp., UnitedHealth Group Inc., United Parcel Service, Inc., United Technologies Corp., Walgreen Co. and Walt Disney Co.
The notes will pay a coupon in February of each year equal to the average of the basket stocks' performances, subject to a floor of 1.5%. If a stock's return is positive, its performance will be equal to the auto-cap of 9.52%. Otherwise, its performance will be equal to its return.
The payout at maturity will be par of $10.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Variable coupon notes
|
| Underlying stocks: | American Express Co. (Symbol: AXP), Apple Inc. (Symbol: AAPL), Barrick Gold Corp. (Symbol: ABX), Cisco Systems, Inc. (Symbol: CSCO), Citigroup Inc. (Symbol: C), Halliburton Co. (Symbol: HAL), Home Depot Inc. (Symbol: HD), Kraft Foods Inc. (Symbol: KFT), Las Vegas Sands Corp. (Symbol: LVS), Qualcomm, Inc. (Symbol: QCOM), SanDisk Corp. (Symbol: SNDK), UnitedHealth Group Inc. (Symbol: UNH), United Parcel Service, Inc. (Symbol: UPS), United Technologies Corp. (Symbol: UTX), Walgreen Co. (Symbol: WAG) and Walt Disney Co. (Symbol: DIS)
|
| Amount: | $9,812,600
|
| Maturity: | Feb. 17, 2016
|
| Coupon: | Weighted average of basket stocks' performances, subject to floor of 1.5%; if stock's return is positive, its performance will equal 9.52%, otherwise, its performance will equal its return; payable annually
|
| Price: | Par of $10
|
| Payout at maturity: | Par
|
| Pricing date: | Feb. 10
|
| Settlement date: | Feb. 17
|
| Agent: | Merrill Lynch, Pierce, Fenner & Smith Inc.
|
| Fees: | 2.5%
|
| Cusip: | 06052R807
|
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