By Susanna Moon
Chicago, Dec. 23 - Bank of America Corp. priced $2 million of floating-rate commodity-linked notes due Jan. 30, 2012 based on the Dow Jones - UBS Commodity Index Total Return, according to an FWP filing with the Securities and Exchange Commission.
The coupon is one-month Libor minus 25 basis points. It will be reset monthly and payable at maturity.
The payout at maturity or upon redemption will be par plus triple the sum of the index return minus the Treasury bill yield less a fee of 0.35% per year.
The notes will be called if the index closes at 15% or more below its initial level.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Commodity-linked notes
|
| Underlying index: | Dow Jones - UBS Commodity Index Total Return
|
| Amount: | $2 million
|
| Maturity: | Jan. 30, 2012
|
| Coupon: | One-month Libor minus 25 bps, reset monthly and payable at maturity
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of sum of index return less the T-bill yield minus fee of 0.35% per year
|
| Call: | If index closes at 85% of its initial level or below
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 29
|
| Agent: | Merrill Lynch, Pierce, Fenner & Smith Inc.
|
| Fees: | 06048WEZ9
|
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