Published on 10/1/2012 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $5.26 million capped leveraged return notes linked to 22 stocks
By Angela McDaniels
Tacoma, Wash., Oct. 1 - Bank of America Corp. priced $5.26 million of 0% notes due Sept. 26, 2014 with capped leveraged return and buffer linked to a basket of common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The equally weighted basket includes the common stocks of Abbott Laboratories, Altria Group, Inc., Apple Inc., AT&T Inc., Chevron Corp., Cisco Systems, Inc., Exxon Mobil Corp., Intel Corp., International Business Machines Corp., Johnson & Johnson, Kraft Foods Inc., McDonald's Corp., Merck & Co., Inc., Microsoft Corp., Occidental Petroleum Corp., PepsiCo, Inc., Pfizer Inc., United Parcel Service, Inc., United Technologies Corp., Wal-Mart Stores, Inc., Walt Disney Co. and Wells Fargo & Co.
The payout at maturity will be par of $10 plus 225% of the basket return if the basket return is positive, subject to a maximum payment of $12 per note. Investors will receive par if the basket declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
Bank of America Merrill Lynch is the underwriter.
| Issuer: | Bank of America Corp.
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| Issue: | Notes with capped leveraged return and buffer
|
| Underlying stocks: | Abbott Laboratories, Altria Group, Inc., Apple Inc., AT&T Inc., Chevron Corp., Cisco Systems, Inc., Exxon Mobil Corp., Intel Corp., International Business Machines Corp., Johnson & Johnson, Kraft Foods Inc., McDonald's Corp., Merck & Co., Inc., Microsoft Corp., Occidental Petroleum Corp., PepsiCo, Inc., Pfizer Inc., United Parcel Service, Inc., United Technologies Corp., Wal-Mart Stores, Inc., Walt Disney Co. and Wells Fargo & Co., equally weighted
|
| Amount: | $5,259,030
|
| Maturity: | Sept. 26, 2014
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 225% of basket return if basket return is positive, subject to maximum payment of $12 per note; par if basket declines by 10% or less; 1% loss for every 1% that basket declines beyond 10%
|
| Pricing date: | Sept. 27
|
| Settlement date: | Oct. 4
|
| Underwriter: | Bank of America Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06053D468
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