New Issue: Bank of America sells $12.45 million dual range accrual notes linked to Libor, S&P 500

By Susanna Moon

Chicago, Aug. 30 - Bank of America Corp. priced $12.45 million of dual range accrual notes due Sept. 2, 2020 linked to Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will accrue at 8% per year on each day that Libor is between 0% and 6.5% and the index closes at or above 85% of the initial index level. Interest is payable quarterly.

The payout at maturity will be par.

The notes will be callable at par on any interest payment date beginning in Sept. 2, 2015.

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

Issuer:	Bank of America Corp.
Issue:	Dual range accrual notes
Underlying components:	Libor, S&P 500 index
Amount:	$12,447,000
Maturity:	Sept. 2, 2020
Coupon:	8% for each day that Libor is 6.5% or less and S&P 500 is at or above 890.137; payable quarterly
Price:	Par
Payout at maturity:	Par
Call option:	At par on any interest payment date after five years
Pricing date:	Aug. 26
Settlement date:	Sept. 2
Underwriter:	Merrill Lynch, Pierce, Fenner & Smith Inc.
Fees:	2%
Cusip:	06048WDD9

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