Published on 5/2/2013 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $5 million Accelerated Return Notes on eXtra Precious Metals
By Marisa Wong
Madison, Wis., May 2 - Bank of America Corp. priced $5 million of 0% Accelerated Return Notes due July 2, 2014 tied to the Merrill Lynch Commodity index eXtra Precious Metals Plus - Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus triple the index return, subject to a maximum return of 12.6%. Investors will lose 1% for every 1% decline in the index.
BofA Merrill Lynch is the underwriter.
Issuer: | Bank of America Corp.
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Issue: | Accelerated Return Notes
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Underlying index: | Merrill Lynch Commodity index eXtra Precious Metals Plus - Excess Return
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Amount: | $5 million
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Maturity: | July 2, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 300% of index return, subject to maximum return of 12.6%; 1% loss for every 1% decline
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Initial index level: | 298.0382
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Pricing date: | April 30
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Settlement date: | May 3
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Underwriters: | Merrill Lynch & Co.
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Fees: | 2%
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Cusip: | 06053E680
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