Bank of America to price dual range accrual notes linked to six-month Libor, S&P 500 index

By Angela McDaniels

Tacoma, Wash., Aug. 3 - Bank of America Corp. plans to price callable dual range accrual notes due September 2023 linked to six-month Libor and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The interest rate will be 7.1% to 7.6% per year multiplied by the proportion of days on which six-month Libor is 6% or less and the S&P 500 is at or above 1,000. Interest will be payable quarterly.

The payout at maturity will be par of $10.

The notes will be callable at par on any interest payment date.

The notes will price and settle in September.

Bank of America Merrill Lynch is the agent.

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