By Marisa Wong
Madison, Wis., April 16 - Bank of America Corp. priced $2.07 million of 0% digital return notes due April 16, 2015 linked to the 30-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
If the final 30-year CMS rate is greater than the initial 30-year CMS rate plus 125 basis points, the payout at maturity will be par plus 30.75%.
If the final 30-year CMS rate is less than the initial 30-year CMS rate, the payout will be $850 per $1,000 principal amount.
In all other cases, the payout will be par.
Bank of America Merrill Lynch is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Digital return notes
|
| Underlying: | 30-year Constant Maturity Swap rate
|
| Amount: | $2,067,000
|
| Maturity: | April 16, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final 30-year CMS rate is more than 4.157%, par plus 30.75%; if final 30-year CMS rate is less than 2.907%, 85% of par; otherwise, par
|
| Initial CMS rate: | 2.907%
|
| Pricing date: | April 12
|
| Settlement date: | April 16
|
| Underwriter: | Bank of America Merrill Lynch
|
| Fees: | 1.75%
|
| Cusip: | 06048WLM0
|
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