By Jennifer Chiou
New York, July 25 - Bank of America Corp. priced $3 million of 0% Minimum Return Equity Appreciation Growth Linked Securities due July 29, 2013 linked to the S&P 500, according to a 424B5 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the compounded value of the index returns during the 20 three-month periods making up the life of the notes. The return in each period will be capped at 9.25%, and the minimum payout at maturity will be par plus 5%.
Banc of America Securities LLC and Bank of America Investment Services, Inc. are the agents.
| Issuer: | Bank of America Corp.
|
| Issue: | Minimum Return Equity Appreciation Growth Linked Securities
|
| Underlying index: | S&P 500
|
| Amount: | $3 million
|
| Maturity: | July 29, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus the compounded value of the index returns during the 20 three-month periods making up the life of the notes; return capped at 9.25% in each period; floor of par plus 5% at maturity
|
| Initial index level: | 1,252.54
|
| Pricing date: | July 24
|
| Settlement date: | July 29
|
| Agents: | Banc of America Securities LLC and Bank of America Investment Services, Inc.
|
| Fees: | 3%
|
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