New Issue: Bank of America sells $7.35 million 3.25% fixed-to-floating notes

By Susanna Moon

Chicago, Dec. 3 - Bank of America Corp. priced $7.35 million of fixed-to-floating notes due Dec. 3, 2015, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 3.25% for the first year. After that, the rate will be Libor plus 125 basis points, with a minimum rate of 1.25%. Interest is payable quarterly.

The payout at maturity will be par.

Merrill Lynch, Pierce, Fenner & Smith Inc. is the underwriter.

Issuer:	Bank of America Corp.
Issue:	Fixed-to-floating notes with minimum interest rate
Amount:	$7.35 million
Maturity:	Dec. 3, 2015
Coupon:	3.25% for one year; thereafter, Libor plus 125 bps, floor of 1.25%; payable quarterly
Price:	Par
Pricing date:	Dec. 1
Settlement date:	Dec. 3
Underwriter:	Merrill Lynch, Pierce, Fenner & Smith Inc.
Fees:	0.5%
Cusip:	06048WER7

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