By Angela McDaniels
Tacoma, Wash., March 2 - Bank of America Corp. priced $9.35 million of zero-coupon 100% principal-protected conditional participation notes due March 6, 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the threshold value - 148% of the initial level - the payout at maturity will be par of $10 plus 10%.
If the final index level is greater than the initial level and less than or equal to the threshold value, the payout will be par plus the index return.
If the final index level is less than the initial level, the payout will be par.
Merrill Lynch & Co. and First Republic Securities Co., LLC are the underwriters.
| Issuer: | Bank of America Corp.
|
| Issue: | 100% principal-protected conditional participation notes
|
| Underlying index: | S&P 500
|
| Amount: | $9.35 million
|
| Maturity: | March 6, 2012
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 10% if final index level is greater than threshold value; par plus index return if final level is greater than initial level but less than or equal to threshold value; par if final index level is less than initial level
|
| Initial index level: | 752.83
|
| Threshold value: | 1,114.19, 148% of initial level
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 5
|
| Underwriters: | Merrill Lynch & Co. and First Republic Securities Co., LLC
|
| Fees: | 2%
|
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