January 19, 2012
CNSX Markets has approved for listing BAC Canada Finance Company Extendible Step Up Semi-Annual Pay Medium-Term Notes, Series 4 (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 20, 2012 until on or about January 27, 2012. The Notes will trade "interest flat" during this period.
Trades during the period will settle on the Issue Date, January 31, 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 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 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 July 31, 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 July 31, 2014, at the interest rate below in respect of the relevant Extension Period.
Interest Rate to the Initial Maturity Date
Rate to be announced in subsequent bulletin prior to trading
From and including January 31, 2012 to but excluding July 31, 2012 -- [·.··]%
Interest Rate – July 31, 2012 to July 31, 2014 (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 July 31, 2012 to but excluding January 31, 2013-[·.··]%
From and including January 31, 2013 to but excluding July 31, 2013-[·.··]%
From and including July 31, 2013 to but excluding January 31, 2014-[·.··]%
From and including January 31, 2014 to but excluding July 31, 2014-[·.··]%
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: Friday, January 20, 2012 through Friday January 27, 2012 for settlement January 31, 2012
Issue Date: January 31, 2012
Dealer: Stuart Investment Management Limited
Symbol: BMF.DB.C
CUSIP: 05518ZAY2
ISIN: CA05518ZAY21
Currency: CAD
If you have any questions or require further information please contact Radhika at (416) 572-2000 X 2435 or E-mail:radhika.ramkarran@cnsx.ca