By Marisa Wong
Madison, Wis., Sept. 15 - Bank of America Corp. priced $20.2 million of 0% currency-linked step-up notes due Aug. 29, 2014 linked to the performance of a basket of currencies relative to the U.S. dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the Chinese renminbi, the Indonesian rupiah and the Turkish lira.
If the basket appreciates relative to the U.S. dollar or remains flat, the payout at maturity will be par of $10 plus the greater of the basket return and the step-up payment of 30%.
Investors will be exposed to the decline if the basket depreciates relative to the U.S. dollar, subject to a minimum payout of $9 per $10 principal amount of notes.
Bank of America Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Currency-linked step-up notes
|
| Underlying currencies: | Chinese renminbi, the Indonesian rupiah and the Turkish lira
|
| Amount: | $20,200,530
|
| Maturity: | Aug. 29, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the basket appreciates or remains flat, par plus greater of basket return and 30%; exposure to decline if basket depreciates, subject to minimum payout of $9 per note
|
| Initial exchange rates: | 6.3982 for renminbi, 8,628 for rupiah and 1.7705 for lira
|
| Pricing date: | Sept. 13
|
| Settlement date: | Sept. 16
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06051N336
|
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