Published on 3/23/2012 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $37.59 million 14-month Accelerated Return Notes tied to S&P 500
By Susanna Moon
Chicago, March 23 - Bank of America Corp. priced $37.59 million of 0% Accelerated Return Notes due May 31, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 plus triple any gain in the index, up to a maximum payout of $11.758 per note.
Investors will be exposed to any index decline.
Bank of America Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Accelerated Return Notes
|
| Underlying index: | S&P 500
|
| Amount: | $37,591,840
|
| Maturity: | May 31, 2013
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 300% of any index gain, capped at 17.58%; exposure to any losses
|
| Initial index level: | 1,402.89
|
| Pricing date: | March 21
|
| Settlement date: | March 30
|
| Underwriter: | Bank of America Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06051P802
|
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