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Posted by Borked Pseudo Mailed on April 16, 2008, 3:55 pm
> Bank of America Corporation STEEPLS
>
> STEEPLS provide you with an opportunity to participate in
> the potential appreciation of one or more securities or
> securities indices (the “Underlying Equity”). However,
> STEEPLS are not principal protected, and the amount that
> you receive at maturity may be less than the face amount
> of your STEEPLS. You may lose some or all of your
> investment in the STEEPLS. The amount that you receive at
> maturity will be based upon the level of the Underlying
> Equity shortly before the maturity date of your STEEPLS.
>
> STEEPLS are our senior debt securities. However, STEEPLS
> differ from traditional debt securities in that they
> contain a derivative component, they are not principal
> protected, and you will not receive interest payments.
>
> At maturity, instead of receiving the face amount of your
> STEEPLS, you may receive an amount that is greater or less
> than the face amount, depending upon the average of the
> closing levels of the Underlying Equity during a period of
> trading days (typically three) (“Maturity Valuation Period”)
> occurring shortly before the maturity date of the STEEPLS.
> See “Payment at Maturity.”
http://www.secinfo.com/d14D5a.v7hRy.htm
What is this? Is this some type of futures or hedge fund?
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