By Susanna Moon
Chicago, Oct. 29 - Bank of America Corp. priced $4.78 million of 0% Currency Market Index Target-Term Securities due Nov. 3, 2014 linked to the Chinese renminbi relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 185% of any gain in the currency.
If the currency falls, the payout will be par plus the return with a minimum payout of 90% of par.
Bank of America Merrill Lynch is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Currency Market Index Target-Term Securities
|
| Underlying currency: | Chinese renminbi relative to dollar
|
| Amount: | $4,779,690
|
| Maturity: | Nov. 3, 2014
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus 185% of currency gain; if currency falls, exposure to 10% of losses
|
| Initial exchange rate: | 6.3047
|
| Pricing date: | Oct. 25
|
| Settlement date: | Nov. 2
|
| Underwriter: | Bank of America Merrill Lynch
|
| Fees: | 1.75%
|
| Cusip: | 06053D583
|
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