Published on 9/15/2011 in the Prospect News Structured Products Daily.
New Issue: BofA prices $31.46 million of variable coupon notes on 16 stocks
By Jennifer Chiou
New York, Sept. 15 - Bank of America Corp. priced $31.46 million of variable coupon notes due Sept. 16, 2015 linked to a basket of 16 stocks, according to a 424B2 filing with the Securities and exchange Commission.
The basket includes Aflac Inc., Altria Group, Inc., Apple, Inc., Barrick Gold Corp., Chevron Corp., Citigroup Inc., Comcast Corp., CVS Caremark Corp., Eastman Chemical Co., Honeywell International Inc., Las Vegas Sands Corp., Netflix, Inc., Potash Corp. of Saskatchewan Inc., Priceline.com Inc., Prudential Financial, Inc. and Walgreen Co.
The notes will pay a coupon in September of each year equal to the average of the basket stocks' performances, subject to a floor of 1%. If a stock's return is positive its performance will be equal to the auto-cap of 11.53%. Otherwise, its performance will be equal to its return.
The payout at maturity will be par of $10.
Bank of America Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Variable coupon notes
|
| Underlying stocks: | Aflac Inc. (Symbol: AFL), Altria Group, Inc. (Symbol: MO), Apple, Inc. (Symbol: AAPL), Barrick Gold Corp. (Symbol: ABX), Chevron Corp. (Symbol: CVX), Citigroup Inc. (Symbol: C), Comcast Corp. (Symbol: CMCSA), CVS Caremark Corp. (Symbol: CVS), Eastman Chemical Co. (Symbol: EMN), Honeywell International Inc. (Symbol: HON), Las Vegas Sands Corp. (Symbol: LVS), Netflix, Inc. (Symbol: NFLX), Potash Corp. of Saskatchewan Inc. (Symbol: POT), Priceline.com Inc. (Symbol: PCLN), Prudential Financial, Inc. (Symbol: PRU) and Walgreen Co. (Symbol: WAG)
|
| Amount: | $31,460,150
|
| Maturity: | Sept. 16, 2015
|
| Coupon: | Weighted average of basket stocks' performances, subject to floor of 1%; if stock's return is positive, its performance will equal 11.53%; otherwise, it will equal its return; payable annually
|
| Price: | Par of $10
|
| Payout at maturity: | Par
|
| Pricing date: | Sept. 13
|
| Settlement date: | Sept. 16
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | 2.25%
|
| Cusip: | 06051N351
|
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