Bank of America to price dual range accrual notes linked to six-month Libor, S&P 500

By Angela McDaniels

Tacoma, Wash., April 24 - Bank of America Corp. plans to price callable dual range accrual notes due April 30, 2027 linked to six-month Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 8.25% per year multiplied by the proportion of days on which six-month Libor is 6% or less and the S&P 500 closes at or above 950. Interest will be payable quarterly.

The payout at maturity will be par.

Beginning April 30, 2013, the notes will be callable at par on any interest payment date.

The notes (Cusip: 06048WLZ1) are expected to settle April 30.

Bank of America Merrill Lynch is the agent.

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