Bank of America Merrill Lynch Announces 2013 Composition and Weights for the Merrill Lynch Commodity

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Bank of America Merrill Lynch Announces 2013 Composition and Weights for the Merrill Lynch Commodity Index eXtra(SM)

LONDON--(BUSINESS WIRE)-- Bank of America Merrill Lynch today announced the 2013 composition and weights for the Merrill Lynch Commodity index eXtraSM (MLCX). The MLCX is designed to provide a liquid, consistent, representative and cost-efficient benchmark for commodity market performance and for investment in commodities as an asset class. The MLCX contains the following six market sectors: Energy, Base Metals, Precious Metals, Grains & Oil Seeds, Livestock, and Soft Commodities & Others.

Bank of America Merrill Lynch constructs the MLCX based on the liquidity of the constituent futures contracts and the value of the global production of each underlying commodity. The MLCX also seeks to avoid redundant contracts and includes only the most liquid contract per commodity which is determined by volume and price. Based on these rules, the MLCX will include Brent crude oil and remove WTI crude oil for 2013. No other commodities have been added or removed. The commodity weights, which are determined by the Bank of America Merrill Lynch Commodities group pursuant to the MLCX Handbook, are listed below:

Commodity

2012

2013

Change

Brent

0.00%

34.19%

34.19%

Gasoil

12.61%

12.38%

(0.23)%

Gasoline (RBOB)

12.19%

11.83%

(0.36)%

Corn

5.57%

6.15%

0.57%

Wheat

5.86%

5.37%

(0.49)%

Copper

5.28%

5.10%

(0.17)%

Gold

3.50%

4.39%

0.89%

Soybean

2.99%

3.34%

0.35%

Aluminium

3.05%

2.87%

(0.18)%

Sugar

2.95%

2.81%

(0.15)%

Live Cattle

1.96%

1.99%

0.03%

Cotton

2.45%

1.65%

(0.80)%

Natural Gas

2.58%

1.60%

(0.98)%

Soybean Oil

1.42%

1.51%

0.09%

Coffee

1.28%

1.29%

0.01%

Lean Hogs

1.04%

1.01%

(0.03)%

Nickel

1.13%

0.92%

(0.21)%

Zinc

0.87%

0.81%

(0.06)%

Silver

0.66%

0.79%

0.13%

Crude Oil (WTI)

32.63%

0.00%

(32.63)%

Sector

2012

2013 Target

Change

Energy

60.00%

60.00%

0.00%

Grains

15.85%

16.37%

0.53%

Base metals

10.32%

9.70%

(0.61)%

Softs

6.67%

5.74%

(0.93)%

Precious metals

4.16%

5.18%

1.02%

Livestock

3.00%

3.00%

0.00%


Calculations by BofA Merrill Lynch Global Commodity Research Group; due to rounding, the change may not be equal to the difference between the figures shown.

Bank of America

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Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC.

Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated, which is a registered broker-dealer and member of FINRA and SIPC, and, in other jurisdictions, a locally registered entity. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.

Copyright 2012 Bank of America Corporation. All rights reserved. Bank of America, Merrill Lynch, Broadcort and their logos are trademarks of Bank of America Corporation and/or its affiliates.

Visit the Bank of America newsroom for more Bank of America news.

www.bankofamerica.com

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Reporters May Contact:
Alexandra Parry, Bank of America Merrill Lynch, +44.0.207.996.0304
alexandra.parry@baml.com
Zia R. Ahmed, Bank of America Merrill Lynch, 1.646.855.3299
zia.r.ahmed@bankofamerica.com

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