Bank of America plans step-up notes linked to krone, krona vs. euro

By Jennifer Chiou

New York, Sept. 8 - Bank of America Corp. plans to price 0% currency-linked step-up notes due September 2014 linked to equal weights of the Norwegian krone and the Swedish krona relative to the euro, according to an FWP with the Securities and Exchange Commission.

If the basket appreciates relative to the euro or remains flat, the payout at maturity will be par of $10 plus the greater of the basket return and the step-up payment of 14% to 20%.

Investors will be exposed to the decline if the basket depreciates relative to the euro, subject to a minimum payout of $9 per $10 note.

The notes will price in September and settle in October.

Bank of America Merrill Lynch is the agent.

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