New Issue: Bank of America prices $5.71 million Stars linked to S&P 500

By Angela McDaniels

Tacoma, Wash., May 18 - Bank of America Corp. priced $5.71 million of 0% Strategic Accelerated Redemption Securities due May 29, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par of $10 plus an annualized call premium of 15.05% if the index closes at or above the initial index level on Nov. 20, 2012, Feb. 19, 2013 or May 21, 2013.

If the notes are not called, investors will have one-to-one downside exposure to decreases in the index.

Bank of America Merrill Lynch is the agent.

Issuer:	Bank of America Corp.
Issue:	Strategic Accelerated Redemption Securities
Underlying index:	S&P 500
Amount:	$5,714,000
Maturity:	May 29, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	One-to-one downside exposure to decreases in index
Call:	Automatically at par plus 15.05% per year if index closes at or above initial index level on Nov. 20, 2012, Feb. 19, 2013 or May 21, 2013
Initial index level:	1,324.8
Pricing date:	May 16
Settlement date:	May 23
Agent:	Bank of America Merrill Lynch
Fees:	1.25%
Cusip:	06051R865

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.