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