By Angela McDaniels
Tacoma, Wash., Dec. 20 - Bank of America Corp. priced $12.24 million of 0% Strategic Accelerated Redemption Securities due March 1, 2013 linked to the front-month futures contract for corn, according to a 424B2 filing with the Securities and Exchange Commission.
If the final futures contract price is greater than or equal to the initial futures contract price, the notes will be called and investors will receive par of $10 plus 21.45%.
If the notes are not called and the final price is at least 90% of the initial price, the payout at maturity will be par. Investors will lose 1% for every 1% that the price declines beyond 10%.
Bank of America Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Strategic Accelerated Redemption Securities
|
| Underlying commodity: | Front-month futures contract for corn
|
| Amount: | $12,238,050
|
| Maturity: | March 1, 2013
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par if final price is at least 90% of initial price; 1% loss for every 1% that price declines beyond 10%
|
| Call: | At par plus 21.45% if final price is greater than or equal to initial price
|
| Initial price: | 583
|
| Pricing date: | Dec. 16
|
| Settlement date: | Dec. 23
|
| Underwriter: | Bank of America Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06051N799
|
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