By Marisa Wong
Madison, Wis., June 24 – Bank of America Corp. priced $16 million of commodity-linked notes due July 27, 2015 linked to the Dow Jones-UBS Commodity Index 2 Month Forward Total Return, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be equal to Libor, reset quarterly and payable at maturity.
The notes are putable, and they will be called if the index closes at or below 85% of its initial level.
The payout at maturity or upon redemption will be par plus triple the index return minus an investor fee of 0.19% per year.
BofA Merrill Lynch is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Commodity-linked notes
|
| Underlying index: | Dow Jones-UBS Commodity Index 2 Month Forward Total Return
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| Amount: | $16 million
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| Maturity: | July 27, 2015
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| Coupon: | Libor, reset quarterly, payable at maturity
|
| Price: | Par of $100,000
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| Payout at maturity: | Par plus 300% of index return less fee of 0.19% per year
|
| Put option: | At any time
|
| Call: | If index closes at or below 85% of initial level
|
| Initial index level: | 585.8353
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| Pricing date: | June 20
|
| Settlement date: | June 27
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | None
|
| Cusip: | 06048WPQ7
|
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