By Jennifer Chiou
New York, April 27 - Bank of America Corp. priced $1 million of 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% per year multiplied by the proportion of days on which six-month Libor is 7% or less and the S&P 500 is at or above 950. Interest is payable quarterly.
The payout at maturity will be par.
Beginning on April 30, 2013, the notes will be callable at par on any interest payment date.
Bank of America Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Callable dual range accrual notes
|
| Underlyings: | Six-month Libor and S&P 500 index
|
| Amount: | $1 million
|
| Maturity: | April 30, 2027
|
| Coupon: | 8% per year multiplied by proportion of days on which six-month Libor is 7% or less and S&P 500 is at or above 950; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates from April 30, 2013 onward
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | 3.2%
|
| Cusip: | 06048WMA5
|
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