By Marisa Wong
Madison, Wis., Feb. 7 - Bank of America Corp. priced $2.8 million of floating-rate commodity-linked notes due March 8, 2013 linked to the Dow Jones - UBS Commodity Index Total Return, according to an FWP filing with the Securities and Exchange Commission.
The coupon is equal to one-month Libor. It is reset monthly and payable at maturity.
The notes are putable at any time subject to a minimum of $100,000 of notes. They will be called if the index closes at or below 85% of its initial level.
The payout at maturity or upon redemption will be par plus triple the quantity of the index return minus the Treasury bill yield less an investor fee of 0.35% per year.
Bank of America Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Commodity-linked notes
|
| Underlying index: | Dow Jones - UBS Commodity Index Total Return
|
| Amount: | $2.8 million
|
| Maturity: | March 8, 2013
|
| Coupon: | One-month Libor, reset monthly and payable at maturity
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of index return minus T-bill yield less fee of 0.35% per year
|
| Put option: | At any time subject to minimum of $100,000
|
| Call: | Automatically if index closes at or below 85% of initial level
|
| Pricing date: | Feb. 6
|
| Settlement date: | Feb. 13
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | None
|
| Cusip: | 06048WKP4
|
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