Bank of America to price Eagles linked to S&P 500

By Laura Lutz

Des Moines, April 29 - Bank of America plans to price senior notes structured as Minimum Return Equity Appreciation Growth Linked Securities (Index Eagles) due May 30, 2014 linked to the S&P 500 index, according to a 424B5 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus the return on the index during each of the 24 three-month periods making up the life of the notes. The return in each period will be capped at between 7% and 9%, with the exact cap to be determined at pricing.

The minimum payout at maturity will be 106% of par.

The notes are expected to price on May 27.

Banc of America Securities LLC and Banc of America Investment Services, Inc. will be the agents.

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