By Angela McDaniels
Tacoma, Wash., Oct. 3 - Bank of America Corp. priced $7.51 million of 0% currency-linked step-up notes due Sept. 30, 2014 linked to the performance of a basket of currencies relative to the euro, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the Norwegian krone and the Swedish krona. The exchange rate measure will increase if the underlying currencies strengthen relative to the euro.
If the exchange rate measure increases or is unchanged, the payout at maturity will be par of $10 plus the greater of the increase and 33.2%.
Investors will be exposed to the decline if the exchange rate measure decreases, subject to a minimum payout of $9 per $10 note.
Bank of America Merrill Lynch is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Currency-linked step-up notes
|
| Underlying currencies: | Norwegian krone and Swedish krona, equally weighted and measured relative to euro
|
| Amount: | $7,510,290
|
| Maturity: | Sept. 30, 2014
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the exchange rate measure increases or is unchanged, par plus the greater of the increase and 33.2%; exposure to any decline in theexchange rate measure, subject to a minimum payout of $9 per note
|
| Initial exchange rates: | 7.8547 for krone and 9.2245 for krona
|
| Pricing date: | Sept. 29
|
| Settlement date: | Oct. 6
|
| Underwriter: | Bank of America Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06051N468
|
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