By Jennifer Chiou
New York, June 21 - Bank of America Corp. priced $15 million of floating-rate leveraged return notes due June 24, 2011 linked to the S&P Diversified Trend Indicator Price Return index, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be one-month Libor minus 20 basis points, payable monthly.
The notes will be called if the index falls to or below 85% of its initial value during the life of the notes.
The payout at maturity will be par of $10,000 plus triple the sum of the index return minus an annual fee of 1.6%.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Leveraged return notes
|
| Underlying index: | S&P Diversified Trend Indicator Price Return index
|
| Amount: | $15 million
|
| Maturity: | June 24, 2011
|
| Coupon: | One-month Libor minus 20 bps, payable monthly
|
| Price: | Par of $10,000
|
| Payout at maturity: | Par plus 300% of sum of the index return minus 1.6% annual fee
|
| Call: | If index falls to or below 85% of its initial value
|
| Pricing date: | June 17
|
| Settlement date: | June 24
|
| Underwriter: | Merrill Lynch, Pierce, Fenner & Smith Inc.
|
| Fees: | None
|
| Cusip: | 06048WCN8
|
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