By Jennifer Chiou
New York, Sept. 24 - Bank of America Corp. priced $19.09 million of floating-rate notes due Sept. 26, 2012 linked to the Consumer Price Index, according to a 424B5 filing with the Securities and Exchange Commission.
Interest is payable monthly. It accrues at an annualized rate equal to 140% of the year-over-year change in the index level - where the initial level is the level 15 months prior to the start of the interest period and the final level is the level three months prior to the start of the interest period. If the year-over-year change is negative, no interest will be paid for that month.
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: | Floating-rate notes
|
| Underlying index: Consumer Price Index
|
| Amount: | $19,085,000
|
| Maturity: | Sept. 26, 2012
|
| Coupon: | Annualized rate equal to 140% of year-over-year change in index level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Sept. 22
|
| Settlement date: | Sept. 26
|
| Agents: | Banc of America Securities LLC and Banc of America Investment Services, Inc.
|
| Fees: | 2.5%
|
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