New Issue: Bank of America prices $19.49 million market-linked step-up notes tied to S&P 500

By Marisa Wong

Madison, Wis., Feb. 25 - Bank of America Corp. priced $19.49 million of 0% market-linked step-up notes due Feb. 27, 2015 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above the step-up value - 116.85% of the initial level - the payout at maturity will be par plus the index gain.

If the index finishes below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 16.85%.

Investors will be exposed to any losses.

BofA Merrill Lynch is the underwriter.

Issuer:	Bank of America Corp.
Issue:	Market-linked step-up notes
Underlying index:	S&P 500 Index
Amount:	$19,494,610
Maturity:	Feb. 27, 2015
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above the step-up level, par plus the gain; if index gains up to step-up level, par plus 16.85%; otherwise, exposure to any losses
Initial index level:	1,502.42
Step-up level:	1,755.58, or 116.85% of initial level
Pricing date:	Feb. 21
Settlement date:	Feb. 28
Underwriters:	BofA Merrill Lynch
Fees:	2%
Cusip:	06053E342

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