By Angela McDaniels
Tacoma, Wash., July 13 - Bank of America Corp. priced $5 million of floating-rate commodity-linked notes due Aug. 20, 2012 linked to the Dow Jones - UBS Industrial Metal Subindex Total Return, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is one-month Libor minus 15 basis points. It will be reset monthly and is payable at maturity.
The notes are putable at any time subject to a minimum of $100,000 of notes. 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 sum of the index return minus the Treasury bill yield less a fee of 0.24% per year.
Bank of America Merrill Lynch is the agent.
Issuer: | Bank of America Corp.
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Issue: | Commodity-linked notes
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Underlying index: | Dow Jones - UBS Industrial Metal Subindex Total Return
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Amount: | $5 million
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Maturity: | Aug. 20, 2012
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Coupon: | One-month Libor minus 15 bps, payable at maturity
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Price: | Par
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Payout at maturity: | Par plus 300% of sum of index return minus T-bill yield less fee of 0.24% per year
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Put option: | At any time
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Call: | Automatically if index closes at or below 85% of initial level
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Pricing date: | July 11
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Settlement date: | July 14
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Agent: | Bank of America Merrill Lynch
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Fees: | None
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Cusip: | 06048WGW4
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