Bank of America plans to price one-year Stars linked to Apple

By Toni Weeks

San Diego, June 12 - Bank of America Corp. plans to price 0% Strategic Accelerated Redemption Securities due July 2013 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.

If the price of Apple shares closes at or above its initial price on the observation dates in December 2012, March 2013 and June 2013, the notes will be called at par of $10 plus a call premium of 15% to 19% per year. The exact call premium will be determined at pricing.

Investors will receive par at maturity if the index falls by up to 10% and will be exposed to losses beyond 10%.

The notes will price and settle in June.

Bank of America Merrill Lynch is the agent.

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