Published on 4/30/2012 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $16.39 million 14-month Accelerated Return Notes on Nasdaq 100
By Susanna Moon
Chicago, April 30 - Bank of America Corp. priced $16.39 million of 0% Accelerated Return Notes due June 28, 2013 linked to the Nasdaq 100 index, according to a 424B2 with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, up to a maximum return of 18.75%.
Investors will be exposed to any losses.
Bank of America Merrill Lynch will be the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Accelerated Return Notes
|
| Underlying index: | Nasdaq 100
|
| Amount: | $16,389,050
|
| Maturity: | June 28, 2013
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 300% of any index gain, capped at 18.75%; exposure to any losses
|
| Initial level: | 2,725.23
|
| Pricing date: | April 26
|
| Settlement date: | May 3
|
| Underwriter: | Bank of America Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06051R840
|
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