By Jennifer Chiou
New York, April 2 - Bank of America Corp. priced $4,272,710 of 0% Strategic Accelerated Redemption Securities due April 15, 2013 linked to Honeywell International Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Honeywell stock closes at or above its initial level on any of three observation dates, the notes will be called at par of $10 plus an annualized call premium of 14.46%.
If the notes are not called, the payout at maturity will be par for losses up to 5%.
Investors will be exposed to losses beyond 5%.
Bank of America Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Strategic Accelerated Redemption Securities
|
| Underlying stock: | Honeywell International Inc. (Symbol: HON)
|
| Amount: | $4,272,710
|
| Maturity: | April 15, 2013
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par if stock falls by up to 5%; exposure to losses beyond 5%
|
| Call: | At par plus 14.46% per year if stock closes at or above its initial level on any of three observation dates
|
| Initial price: | $60.29
|
| Trigger price: | $57.28, 95% of initial level
|
| Pricing date: | March 29
|
| Settlement date: | April 5
|
| Underwriter: | Bank of America Merrill Lynch
|
| Fees: | 1.25%
|
| Cusip: | 06051P836
|
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