New Issue: Bank of America prices $10 million fixed-to-floaters with 3.25% floor

By Susanna Moon

Chicago, Nov. 8 - Bank of America Corp. priced $10 million of fixed-to-floating notes due Nov. 8, 2013, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 4.5% for the first six months. After that, it will be Libor plus 250 basis points, with a minimum rate of 3.25%. Interest is payable quarterly.

The payout at maturity will be par.

Bank of America Merrill Lynch is the underwriter.

Issuer:	Bank of America
Issue:	Fixed-to-floating notes
Amount:	$10 million
Maturity:	Nov. 8, 2013
Coupon:	4.5% initially; beginning on May 8, 2012, Libor plus 250 bps, floor of 3.25%; payable quarterly
Price:	Varying prices
Payout at maturity:	Par
Pricing date:	Nov. 4
Settlement date:	Nov. 8
Underwriter:	Bank of America Merrill Lynch
Fees:	0.275%
Cusip:	06048WJL5

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