Published on 4/21/2011 in the Prospect News Structured Products Daily.
New Issue: Bank of America sells $16.1 million three-year 0% notes on MSCI India
By Marisa Wong
Madison, Wis., April 21 - Bank of America Corp. priced $16.1 million of 0% notes due April 25, 2014 linked to the MSCI India index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 plus 1.75 times any index gain, up to a maximum payment of $17.6125 per note.
Investors will be exposed to any losses.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Notes
|
| Underlying index: | MSCI India
|
| Amount: | $16,104,530
|
| Maturity: | April 25, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.75 times any index gain, capped at 76.125%; full exposure to losses
|
| Initial level: | 521.20
|
| Pricing date: | April 19
|
| Settlement date: | April 27
|
| Agent: | Merrill Lynch, Pierce, Fenner & Smith Inc.
|
| Fees: | 2.25%
|
| Cusip: | 06050R460
|
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