Bank of America to price 0% Steepls linked to Dow Industrials

By Jennifer Chiou

New York, Nov. 30 - Bank of America plans to price 0% unsecured senior notes in the Strategic Equity Exposure Performance Linked Securities (Steepls) structure due March 26, 2009 linked to the Dow Jones Industrial Average, according to a 424B5 filing with the Securities and Exchange Commission.

At maturity, investors will receive double the gain on the index, capped at 16% to 20%. Investors will share in any losses.

The securities are expected to price and settle in December.

Banc of America Securities LLC and Banc of America Investment Services Inc. are the agents.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.