By Laura Lutz
Des Moines, April 24 - Bank of America priced $42.2 million of 0% buffered Strategic Equity Exposure Performance Linked Securities (Steepls) due April 26, 2010 linked to a basket of five indexes, according to a 424B5 filing with the Securities and Exchange Commission.
The basket consists of the Dow Jones Industrial Average with a 68% weight, the S&P MidCap 400 index with a 10% weight, the S&P SmallCap 600 index with a 7% weight, the Dow Jones Euro Stoxx 50 index with a 7.5% weight and the Nikkei 225 index with a 7.5% weight.
If the final basket level is at least the initial level, the payout at maturity will be par plus double any gain on the basket, capped at a payout equal to 120% of par.
If the basket declines by up to 10%, the payout will be par. Investors will lose 1% for each 1% that the basket declines beyond 10%.
Banc of America Securities LLC and Banc of America Investment Services, Inc. are the agents.
| Issuer: | Bank of America
|
| Issue: | Buffered Strategic Equity Exposure Performance Linked Securities (Steepls)
|
| Underlying indexes: | Dow Jones Industrial Average with 68% weight, S&P MidCap 400 index with 10% weight, S&P SmallCap 600 index with 7% weight, Dow Jones Euro Stoxx 50 index with 7.5% weight and Nikkei 225 index with 7.5% weight
|
| Amount: | $42.2 million
|
| Maturity: | April 26, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any gain on the basket; par if basket declines up to 10%; investors lose 1% for each 1% basket decline beyond 10%
|
| Pricing date: | April 23
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| Settlement date: | April 25
|
| Agents: | Banc of America Securities LLC; Banc of America Investment Services, Inc.
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| Fees: | 1.75%
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