By Angela McDaniels
Tacoma, Wash., Oct. 31 - Bank of America Corp. priced $2 million of autocallable notes due Nov. 5, 2013 linked to the lesser performing of the common stocks of Amazon.com, Inc. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a conditional quarterly coupon of $0.4875 per $10.00 note if the closing share price of each stock is greater than or equal to 60% of its initial share price on the observation date for that quarter.
If each stock closes at or above its initial share price on an observation date, the notes will be automatically called at par plus the conditional coupon.
If the notes have not been called and the final share price of each stock is greater than or equal to 80% of its initial share price, the payout at maturity will be par plus the conditional coupon. If either stock finishes below 80% of its initial share price, the payout will be par minus 1% for every 1% that the lesser-performing stock declines beyond 20%.
Bank of America Merrill Lynch is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Autocallable notes
|
| Underlying stocks: | Amazon.com, Inc. and JPMorgan Chase & Co.
|
| Amount: | $2 million
|
| Maturity: | Nov. 5, 2013
|
| Coupon: | $0.4875 per note per quarter if closing share price of each stock is greater than or equal to 60% of initial share price on observation date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus conditional coupon if final share price of each stock is greater than or equal to 80% of initial share price; otherwise, par minus 1% for every 1% that lesser-performing stock declines beyond 20%
|
| Initial share prices: | $206.78 for Amazon and $37.02 for JPMorgan
|
| Pricing date: | Oct. 27
|
| Settlement date: | Nov. 3
|
| Underwriter: | Bank of America Merrill Lynch
|
| Fees: | 1.5%
|
| Cusip: | 06051N765
|
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