E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 6/27/2011 in the Prospect News Structured Products Daily.

New Issue: Bank of America prices $28.19 million Mitts linked to three indexes

By Angela McDaniels

Tacoma, Wash., June 27 - Bank of America Corp. priced $28.19 million of 0% Market Index Target-Term Securities due June 30, 2017 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes the S&P 500 index with a 45% weight, the MSCI EAFE index with a 27.5% weight and the MSCI Emerging Markets index with a 27.5% weight.

The payout at maturity will be par of $10 plus the basket return, subject to a minimum payout of par and a maximum payout of 181% of par.

Bank of America Merrill Lynch is the underwriter.

Issuer:Bank of America Corp.
Issue:Market Index Target-Term Securities
Underlying indexes:S&P 500 index (45% weight), MSCI EAFE index (27.5% weight) and MSCI Emerging Markets index (27.5% weight)
Amount:$28,185,820
Maturity:June 30, 2017
Coupon:0%
Price:Par of $10.00
Payout at maturity:Par plus basket return, subject to floor of $10.00 and cap of $18.10 per note
Initial index levels:1,283.50 for S&P 500; 1,628.03 for MSCI EAFE; 1,105.31 for MSCI Emerging Markets
Final index levels:For each index, average of its closing levels on the five trading days ending June 27, 2017
Pricing date:June 23
Settlement date:July 1
Underwriter:Bank of America Merrill Lynch
Fees:2.5%
Cusip:06051N112

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.