By Angela McDaniels
Tacoma, Wash., April 24 - Bank of America Corp. priced $69 million of step-up callable notes due April 24, 2032, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 5.125% in years one through five, 5.875% in years six through 10, 6% in years 11 through 15, 8% in years 16 and 17 and 10% in years 18 through 20. Interest is payable semiannually.
The payout at maturity will be par.
Beginning April 24, 2013, the notes will be callable at par on any interest payment date.
Bank of America Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Step-up callable notes
|
| Amount: | $69 million
|
| Maturity: | April 24, 2032
|
| Coupon: | 5.125% in years one through five, 5.875% in years six through 10, 6% in years 11 through 15, 8% in years 16 and 17 and 10% in years 18 through 20; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date from April 24, 2013 onward
|
| Pricing date: | April 20
|
| Settlement date: | April 24
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | 2.75%
|
| Cusip: | 06048WLR9
|
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