Published on 10/29/2012 in the Prospect News Structured Products Daily.
New Issue: Bank of America sells $13.89 million Leveraged Index Return Notes tied to the Dow
By Marisa Wong
Madison, Wis., Oct. 29 - Bank of America Corp. priced $13.89 million of 0% Leveraged Index Return Notes due Oct. 30, 2015 linked to Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 129.3% of any index gain. Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% that it declines beyond 10%.
Bank of America Merrill Lynch is the agent.
Issuer: | Bank of America Corp.
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Issue: | Leveraged Index Return Notes
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Underlying index: | Dow Jones industrial average
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Amount: | $13,894,880
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Maturity: | Oct. 30, 2015
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 129.3% of any index gain; par if index falls by up to 10%; 1% loss for every 1% drop beyond 10%
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Initial level: | 13,103.68
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Pricing date: | Oct. 25
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Settlement date: | Nov. 2
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Agent: | Bank of America Merrill Lynch
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Fees: | 2.25%
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Cusip: | 06053D526
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