By Angela McDaniels
Tacoma, Wash., Oct. 3 - Bank of America Corp. priced $20.13 million of 0% enhanced market-linked step-up notes with buffer due Sept. 26, 2014 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the step-up value, the payout at maturity will be par of $10 plus the index return. The step-up value is 141.75% of the initial index level.
If the final index level is less than or equal to the step-up value and greater than or equal to 90% of the initial index level, the payout will be par plus 41.75%.
Investors will lose 1% for every 1% that the index declines beyond 10%.
Bank of America Merrill Lynch is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Enhanced market-linked step-up notes with buffer
|
| Underlying index: | Dow Jones industrial average
|
| Amount: | $20,134,310
|
| Maturity: | Sept. 26, 2014
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final index level is greater than step-up value, par plus index return; if final index level is less than or equal to step-up value and greater than or equal to 90% of initial index level, par plus 41.75%; 1% loss for every 1% that index declines beyond 10%
|
| Initial index level: | 11,153.98
|
| Step-up value: | 15,810.77, 141.75% of initial level
|
| Pricing date: | Sept. 29
|
| Settlement date: | Oct. 6
|
| Underwriter: | Bank of America Merrill Lynch
|
| Fees: | 2.25%
|
| Cusip: | 06051N484
|
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