By Angela McDaniels
Tacoma, Wash., Nov. 2 - Bank of America Corp. priced $2 million of floating-rate commodity-linked notes due Nov. 20, 2012 linked to the S&P GSCI Precious Metals Index Total Return, according to an FWP filing with the Securities and Exchange Commission.
The coupon is one-month Libor plus 50 basis points. It will be reset monthly and is payable at maturity.
The notes are putable at any time subject to a minimum of $100,000 of notes. They will be called if the index closes at or below 85% of its initial level.
The payout at maturity or upon redemption will be par plus triple the sum of the index return minus the Treasury bill yield less a fee of 0.3% per year.
Bank of America Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Commodity-linked notes
|
| Underlying index: | S&P GSCI Precious Metals Index Total Return
|
| Amount: | $2 million
|
| Maturity: | Nov. 20, 2012
|
| Coupon: | One-month Libor plus 50 bps, reset monthly and payable at maturity
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of sum of index return minus T-bill yield less fee of 0.3% per year
|
| Put option: | At any time
|
| Call: | Automatically if index closes at or below 85% of initial level
|
| Pricing date: | Nov. 1
|
| Settlement date: | Nov. 8
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | None
|
| Cusip: | 06048WJD3
|
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