By Angela McDaniels
Tacoma, Wash., Feb. 25 - Bank of America Corp. priced $71.81 million of 0% Accelerated Return Notes due Feb. 27, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The initial index level will be the lowest closing level of the index during a two-month period beginning on the pricing date.
If the index return is positive, the payout at maturity will be par of $10 plus 300% of the index return, subject to a maximum payout of par plus 17.7%. Investors will lose 1% for every 1% decline in the index.
BofA Merrill Lynch is the underwriter.
Issuer: | Bank of America Corp.
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Issue: | Accelerated Return Notes
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Underlying index: | S&P 500
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Amount: | $71,805,190
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Maturity: | Feb. 27, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 300% of index return, subject to maximum payout of par plus 17.7%; 1% loss for every 1% decline
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Initial index level: | Index's lowest closing level from and including pricing date to and including April 22
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Pricing date: | Feb. 21
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Settlement date: | Feb. 28
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Underwriter: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06053E334
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