By Marisa Wong
Madison, Wis., Dec. 10 - Bank of America Corp. priced $3 million of floating-rate commodity-linked notes due Jan. 22, 2014 tied to the Dow Jones - UBS Precious Metals Total Return sub-index, according to an FWP filing with the Securities and Exchange Commission.
The coupon is equal to one-month Libor. It is 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 0.23% per year.
Bank of America Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Commodity-linked notes
|
| Underlying index: | Dow Jones - UBS Precious Metals Total Return sub-index
|
| Amount: | $3 million
|
| Maturity: | Jan. 22, 2014
|
| Coupon: | One-month Libor, reset monthly and payable at maturity
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of sum of index return minus T-bill yield less fee of 0.23% per year
|
| Put option: | At any time, subject to minimum of $100,000 of notes
|
| Call: | Automatically if index closes at or below 85% of initial level
|
| Pricing date: | Dec. 7
|
| Settlement date: | Dec. 14
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | None
|
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