January 27, 2012
CNSX Markets has approved for listing BAC Canada Finance Company Commodity Optimizer Principal Protected (CAD) Notes, Series 1, due February 15, 2017 (the “Notes”).
The Notes distributed under prospectus and pricing supplement will be sold by the Dealer through a selling agent on the Exchange at the Issue Price. The Notes will be posted for trading on an "if, as and when issued" basis from January 30, 2012 until on or about February 10, 2012.
Trades during the period will settle on the Issue Date, February 15, 2012.
The Notes are unsecured and unsubordinated debt securities of BAC Canada Finance Company (formerly Merrill Lynch Canada Finance Company, the “Company”), unconditionally guaranteed as to payment of all amounts payable by Bank of America Corporation and CIBC Mellon Trust Company, as trustee, as supplemented by the first supplemental indenture dated October 26, 2011.
The medium-term note program of the Company is rated “A-” by Standard & Poor’s Rating Services, (P)Baa1 by Moody’s Investors Service, Inc. and A by Fitch Inc. These Notes will not be specifically rated by any of these rating agencies.
The return on the Notes will be linked to the returns on five commodities (collectively, the "Commodity Basket"), copper, corn, gold, Brent crude oil and sugar.
The Total Locked-In Commodity Performance will be the sum of the Locked-In Commodity Performances of the five Commodities. Each Locked-In Commodity Performance will be the return on the best performing remaining Commodity from the Pricing Date determined as of the anniversaries of the Pricing Date, subject to a maximum of 14.6%. Once a Commodity has been determined to be the best performing remaining Commodity for a period, it is no longer considered in determining the best performing Commodity for subsequent periods. Thus, over the five-year term of the Notes, each Locked-In Commodity Performance will be based on the return of each of the five Commodities. The returns for each of copper and gold will be based on the performance of a specified spot price and the returns for each of the other Commodities will be based on the performance of a specified futures contract.
Commodity Performance Determination Dates: February 10 in each of 2013, 2014, 2015, 2016 and 2017 or, if not a business Day, the next following business Day, which are expected to be February 11, 2013, February 10, 2014, February 10, 2015, February 10, 2016 and February 10, 2017, subject to postponement to the next following Scheduled Trading Day if any such date is not a Scheduled Trading Day (see "Description of Notes - Market Disruptions" in the Pricing Supplement)
Issue Price: $100
Principal Amount: $100
Principal Protection: 100%, if the Notes are held to the Maturity Date.
Payment at Maturity: The Redemption Amount for each Note will be equal to the greater of (i) $100 and (ii) $100 plus the product of $100 and the Total Locked-In Commodity Performance (as defined in "Summary of the Offering" in the pricing Supplement dated January 30 2012 .
Maturity Date: February 15, 2017
Further details and the prospectus and pricing supplement for the Notes will be available in the CNSX Listings Disclosure Hall.
If, As and When Issued Trading: Monday, January 30, 2012 through Friday February 10, 2012 for settlement February 15, 2012
Issue Date: February 15, 2012
Dealer: Stuart Investment Management Limited
Symbol: BMQ.DB.A
CUSIP: 05518ZAZ9
ISIN: CA05518ZAZ95
Currency: CAD
If you have any questions or require further information please contact Radhika at (416) 572-2000 X 2435 or E-mail: Listings@cnsx.ca