TORONTO, March 5, 2012 /CNW/ - CNSX Markets has approved for listing BAC Canada Finance Company Extendible Step Up Semi-Annual Pay Medium-Term Notes, Series 6 (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 March 6, 2012 until on or about March 14, 2012. The Notes will trade "interest flat" during this period.
Trades during the period will settle on the Issue Date, March 19, 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.
The Company will pay interest semi-annually during the term of the Notes, calculated based on a 360 day year consisting of twelve 30 day months. The initial term of the Notes will end on September 19, 2012, the Initial Maturity Date. The Company may, at its option, on the Initial Maturity Date and on each semi-annual Subsequent Maturity Date thereafter on which the Notes are outstanding, extend the Maturity Date of the Notes to the next following Subsequent Maturity Date or to the Final Maturity Date of March 19, 2015, at the interest rate below in respect of the relevant Extension Period.
Annual Interest Rate to March 19, 2013
Rate to be announced in subsequent bulletin prior to trading
From and including March 19, 2012 to but excluding March 18, 2013 -- [0.00]%
Annual Interest Rate - March 19, 2013 to March 19, 2015 (subject to extension of the term of the Notes by the Company).
Rates to be announced in subsequent bulletin prior to trading
From and including March 19, 2013 to but excluding March 19, 2014-[....]%
From and including March 19, 2014 to but excluding March 19, 2015-[....]%
Principal Protection: 100%, if the Notes are held to the Maturity Date.
Payment at Maturity: The Principal Amount will be repaid on the Maturity Date.
Further details and the prospectus for the Notes will be available in the
CNSX Listings Disclosure Hall.
If, As and When Issued Trading: Tuesday March 6, 2012 through Wednesday March 14, 2012 for settlement on the Issue Date
Issue Date: March 19, 2012
Dealer: Stuart Investment Management Limited