BAC Canada Finance Co. has listed structured, unsecured and unsubordinated debt securities on the Canadian National Stock Exchange (CNSX). The BAC Canada Finance Company 5 year Extendible Step Up Semi-Annual Pay Medium-Term Notes, Series 1, are expected to garner up to $20 million and are presently trading on an "if, as and when issued" condition until Nov. 9, 2011.
Bank of America Corp. is unconditionally guaranteeing all amounts payable. The firm will give interest semi-annually during the term of the bonds at an initial rate of 4 percent from Nov. 15, 2011, to, but excluding, Nov. 15, 2012. Stuart Investment Management was agent on the transaction.
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