The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Giordano Bruno who wrote (280088)	10/1/2010 10:28:25 AM
From: Les H	Read Replies (1) of 306849

Bank of America Corp. sold $65.1 million of five-year structured notes linked to its Investable Volatility Index, a measure of stock-price swings. The Sept. 22 offering is the largest in the U.S. tied to a proprietary index since May, according to data compiled by Bloomberg. The notes return any gains or losses in the index, less a 2 percent upfront charge and a 0.75 percent annual fee, according to a prospectus filed with the U.S. Securities and Exchange Commission. The Investable Volatility Index tracks the price of Standard & Poor’s 500 Index options using a gauge similar to the Chicago Board Options Exchange Volatility Index, which is known as the VIX. Because the VIX and S&P 500 move in opposite directions about 80 percent of the time, investors buy options and futures on the volatility measure to guard against market plunges. bloomberg.com

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