New Issue: Bank of America prices $21.26 million step up notes linked to S&P 500

New York, Nov. 25 - Bank of America Corp. priced $21.26 million of 0% market-linked step up notes due Nov. 26, 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par of $10 plus the greater of the index return and 20.05%. Investors will be fully exposed to any index decline beyond a 10% drop.

The issuer has applied to list the securities on NYSE Arca under the symbol "BSQ."

Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC are the underwriters.

Issuer:	Bank of America Corp.
Issue:	Market-linked step up notes
Underlying index:	S&P 500
Amount:	$21.26 million
Maturity:	Nov. 26, 2012
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index finishes at or above initial level, par plus greater of index return and 20.05%; full exposure to any index decline beyond a 10% buffer
Initial index level:	1,105.65
Pricing date:	Nov. 24
Settlement date:	Dec. 7
Underwriters:	Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC
Fees:	2.25%

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.