By Angela McDaniels
Tacoma, Wash., Nov. 29 - Bank of America Corp. priced $74.12 million of 0% enhanced buffer market-linked step-up notes due Nov. 22, 2013 linked to the Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the step-up value, the payout at maturity will be par of $10 plus the index return.
If the final index level is less than or equal to the step-up value and greater than or equal to 90% of the initial index level, the payout at maturity will be par plus the step-up payment.
Investors will lose 1% for every 1% that the index declines beyond 10%.
The step-up value is 117.53% of the initial index level, and the step-up payment is 17.53%.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Enhanced buffer market-linked step-up notes
|
| Underlying index: | Dow Jones Industrial Average
|
| Amount: | $74,116,020
|
| Maturity: | Nov. 22, 2013
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final index level is greater than step-up value, par plus index return; if final index level is less than or equal to step-up value and greater than or equal to 90% of initial index level, par plus 17.53%; 1% loss for every 1% that index declines beyond 10%
|
| Initial index level: | 11,036.37
|
| Step-up value: | 12,971.05, 117.53% of initial level
|
| Pricing date: | Nov. 23
|
| Settlement date: | Dec. 1
|
| Underwriter: | Merrill Lynch, Pierce, Fenner & Smith Inc.
|
| Fees: | 2.25%
|
| Cusip: | 06052R211
|
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