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 4/2/2012 in the Prospect News Structured Products Daily.

New Issue: BofA prices $15.74 million variable-coupon notes linked to 16 stocks

By Jennifer Chiou

New York, April 2 - Bank of America Corp. priced $15,738,460 of variable-coupon notes due April 5, 2017 linked to an equally weighted basket of 16 common stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The underlying companies are Altria Group, Inc., Apple Inc., Barrick Gold Corp., Boeing Co., Citigroup Inc., Chesapeake Energy Corp., Cisco Systems, Inc., Eli Lilly and Co., Goldcorp Inc., Intel Corp., MetLife, Inc., Monsanto Co., Pfizer Inc., Union Pacific Corp., Whole Foods Market, Inc. and Wal-Mart Stores, Inc.

The coupon will be equal to the average of the stock performances on the observation date, with a minimum rate of 1% and a maximum rate of 11.05%. Interest is payable each year in April.

The payout at maturity will be par.

Bank of America Merrill Lynch is the agent.

Issuer:Bank of America Corp.
Issue:Variable-coupon notes
Underlying stocks:Altria Group, Inc., Apple Inc., Barrick Gold Corp., Boeing Co., Citigroup Inc., Chesapeake Energy Corp., Cisco Systems, Inc., Eli Lilly and Co., Goldcorp Inc., Intel Corp., MetLife, Inc., Monsanto Co., Pfizer Inc., Union Pacific Corp., Whole Foods Market, Inc. and Wal-Mart Stores, Inc., equally weighted
Amount:$15,738,460
Maturity:April 5, 2017
Coupon:Amount equal to average of basket stocks' performances, subject to minimum coupon of 1% and maximum rate of 11.05%; payable annually
Price:Par of $10
Payout at maturity:Par
Pricing date:March 29
Settlement date:April 5
Agent:Bank of America Merrill Lynch
Fees:2.5%
Cusip:06051P778

© 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.