Published on 7/2/2012 in the Prospect News Structured Products Daily.
New Issue: Bank of America sells $11.44 million Accelerated Return Notes on Merrill Lynch Commodity
By Susanna Moon
Chicago, July 2 - Bank of America Corp. priced $11.44 million of 0% Accelerated Return Notes due Aug. 30, 2013 linked to the Merrill Lynch Commodity index eXtra A06 Index - Excess Return, 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 $11.80 per note.
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
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Underlying index: | Merrill Lynch Commodity index eXtra A06 Index - Excess Return
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Amount: | $11,435,000
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Maturity: | Aug. 30, 2013
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Coupon: | 0%
|
Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at 18%; exposure to any losses
|
Initial level: | 354.139
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Pricing date: | June 28
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Settlement date: | July 6
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Underwriter: | Bank of America Merrill Lynch
|
Fees: | 2%
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Cusip: | 06051R485
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