New Issue: Bank of America prices $4.3 million 10-year fixed-to-floaters with 1.5% floor, 7% cap

By Susanna Moon

Chicago, June 28 - Bank of America Corp. priced $4.3 million of fixed-to-floating notes with minimum interest rate and maximum interest rate due June 28, 2021, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 5% for the first two years. After that, it will be Libor plus 150 basis points, with a minimum rate of 1.5% and a maximum rate of 7%. Interest is payable quarterly.

The payout at maturity will be par.

Bank of America Merrill Lynch is the underwriter.

Issuer:	Bank of America Corp.
Issue:	Fixed-to-floating notes with minimum interest rate and maximum interest rate
Amount:	$4.3 million
Maturity:	June 28, 2021
Coupon:	5% initially; after June 28, 2013, Libor plus 150 bps, floor of 1.5%, cap of 7%; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	June 24
Settlement date:	June 28
Underwriter:	Bank of America Merrill Lynch
Fees:	1%
Cusip:	06048WGP9

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