By Susanna Moon
Chicago, Dec. 3 - Bank of America Corp. priced $8.21 million of 0% Strategic Accelerated Redemption Securities due Dec. 13, 2013 linked to the American Depositary Receipts of BP plc, according to a 424B2 filing with the Securities and Exchange Commission.
If BP shares close at or above the initial price on any of three observation dates, the notes will be called at par of $10 plus an annualized call premium of 16.91%.
If the notes are not called, the payout at maturity will be par if BP shares fall by up to 5%.
Otherwise, investors will be exposed to losses beyond 5%.
Bank of America Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Strategic Accelerated Redemption Securities
|
| Underlying shares: | BP plc (NYSE: BP)
|
| Amount: | $8,214,270
|
| Maturity: | Dec. 13, 2013
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par if shares fall by up to 5%; exposure to losses beyond 5%
|
| Call: | At par plus 16.91% per year if shares close at or above initial price on any of three observation dates
|
| Initial price: | $41.38
|
| Threshold price: | $39.31, 95% of initial price
|
| Pricing date: | Nov. 29
|
| Settlement date: | Dec. 6
|
| Underwriter: | Bank of America Merrill Lynch
|
| Fees: | 1.25%
|
| Cusip: | 06053D781
|
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