New Issue: Bank of America prices $15.41 million one-year Stars linked to Apple

By Toni Weeks

San Diego, Aug. 20 - Bank of America Corp. priced $15.41 million of 0% Strategic Accelerated Redemption Securities due August 30, 2013 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If the price of Apple stock closes at or above its initial price on the observation dates in February 2013, May 2013 and August 2013, the notes will be called at par of $10 plus a call premium of 14.7% per year.

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

Bank of America Merrill Lynch is the agent.

Issuer:	Bank of America Corp.
Issue:	Strategic Accelerated Redemption Securities
Underlying stock:	Apple Inc. (Nasdaq: AAPL)
Amount:	$15,407,670
Maturity:	Aug. 30, 2013
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par if share price falls by up to 10%, full exposure to losses beyond 10%
Call:	At par plus premium of 14.7% per year if Apple shares close at or above initial price on Feb. 15, 2013, May 17, 2013 or Aug. 23, 2013
Initial price:	$634.52
Threshold price:	$571.07, 90% of initial price
Pricing date:	Aug. 16
Settlement date:	Aug. 23
Agent:	Bank of America Merrill Lynch
Fees:	1.25%
Cusip:	06053D229

© 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.