By Jennifer Chiou
New York, June 25 - Bank of America Corp. priced $12.91 million of interest rate-linked notes due Dec. 27, 2012 linked to the Consumer Price Index, according to a 424B5 filing with the Securities and Exchange Commission.
Interest, if any, will be payable monthly.
The interest rate will equal the percentage change in the Consumer Price Index between the month that is 15 months prior to the interest period month and the month that is three months prior to the interest period month. This rate will be multiplied by a participation rate of 125%.
Only if the change is greater than zero will interest be paid.
The payout at maturity will be par.
Banc of America Securities LLC and Banc of America Investment Services, Inc. are the agents.
| Issuer: | Bank of America Corp.
|
| Issue: | Interest rate-linked notes
|
| Underlying index: | Consumer Price Index
|
| Amount: | $12,905,000
|
| Maturity: | Dec. 27, 2012
|
| Coupon: | Equal to the percentage change in the Consumer Price Index between the month that is 15 months prior to the interest period month and the month that is three months prior to the interest period month multiplied by a participation rate of 125%; only if the change is greater than zero will interest be paid; reset and payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | June 24
|
| Settlement date: | June 27
|
| Agents: | Banc of America Securities LLC and Banc of America Investment Services, Inc.
|
| Fees: | 2.5%
|
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