By Marisa Wong
Madison, Wis., Jan. 3 - Bank of America Corp. priced $3.6 million of 0% currency-linked step-up notes due Dec. 30, 2013 linked to a basket of three currencies relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the Russian ruble, the Indian rupee and the Chinese renminbi.
If the basket finishes at or above the step level - 129.1% of the initial value - the payout at maturity will be par plus the basket return.
If the basket finishes at or above the initial level but at or below the step level, the payout will be par plus a step-up payment of $2.91 per $10.00 note.
Investors will be exposed to losses of up to 10% and will receive a minimum of $9.00 if the basket declines by more than 10%.
Bank of America Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Currency-linked step-up notes
|
| Underlying currencies: | Russian ruble, Indian rupee, Chinese renminbi; equally weighted
|
| Amount: | $3,601,560
|
| Maturity: | Dec. 30, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket finishes at or above step level, par plus basket return; if basket finishes at or above initial level but at or below step level, par plus $2.91 per note; exposure to losses of up to 10%; minimum payout of $9.00
|
| Initial exchange rates: | 32.0533 for ruble, 53.3585 for rupee and 6.3157 for renminbi
|
| Pricing date: | Dec. 29
|
| Settlement date: | Jan. 6
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | 1.75%
|
| Cusip: | 06051P307
|
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