By Jennifer Chiou
New York, Feb. 1 - Bank of America Corp. priced $7.22 million of zero-coupon 90% principal-protected conditional participation notes due Jan. 31, 2012 linked to the dollar/euro exchange rate, according to a 424B2 filing with the Securities and Exchange Commission.
If the final rate is greater than the threshold value - 120.11% of the initial level - the payout at maturity will be par of $10 plus the threshold payment of 4%.
If the final rate is greater than the initial level and less than or equal to the threshold value, the payout will be par plus 125% of the return.
If the final rate is less than the initial level, the payout will share in any losses up to 10%.
Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC are the underwriters.
| Issuer: | Bank of America Corp.
|
| Issue: | 90% principal-protected conditional participation notes
|
| Underlying rate: | Dollar/euro exchange rate
|
| Amount: | $7.22 million
|
| Maturity: | Jan. 31, 2012
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 4% if final rate is greater than threshold value; par plus 125% of the return if final level is greater than initial level but less than or equal to threshold value; floor of 90% of par if final rate is less than initial level
|
| Starting value: | 100.00
|
| Threshold value: | 120.11, 120.11% of initial level
|
| Pricing date: | Jan. 28
|
| Settlement date: | Feb. 4
|
| Underwriters: | Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC
|
| Fees: | 1.75%
|
| Cusip: | 06052E889
|
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