Published on 5/31/2011 in the Prospect News Structured Products Daily.
New Issue: BofA prices $24.6 million Accelerated Return Notes on MSCI EM index
By Jennifer Chiou
New York, May 31 - Bank of America Corp. priced $24.6 million of 0% Accelerated Return Notes due July 27, 2012 linked to the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any gain in the index, up to a cap of 18.93%.
Investors will be exposed to any losses.
Bank of America Merrill Lynch is the agent.
Issuer: | Bank of America Corp.
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Issue: | Accelerated Return Notes
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Underlying index: | MSCI Emerging Markets
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Amount: | $24,601,510
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Maturity: | July 27, 2012
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at 18.93%; exposure to any losses
|
Initial index level: | 1,133.37
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Pricing date: | May 26
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Settlement date: | June 3
|
Agent: | Bank of America Merrill Lynch
|
Fees: | 2%
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Cusip: | 06050R643
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