New Issue: Bank of America sells $22.45 million market-linked step-up autocallables on S&P 500

By Marisa Wong

Madison, Wis., Feb. 25 - Bank of America Corp. priced $22.45 million of autocallable market-linked step-up notes due Feb. 26, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index closes at or above the initial level on either call observation date, the notes will be called at par of $10 plus a call premium of 8.5% per year.

If the index finishes at or above the step-up value - 141.57% 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 41.57%.

Investors will be fully exposed to any losses.

BofA Merrill Lynch is the agent.

Issuer:	Bank of America Corp.
Issue:	Autocallable market-linked step-up notes
Underlying index:	S&P 500
Amount:	$22,452,53
Maturity:	Feb. 26, 2016
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index finishes above step-up value, par plus return; if index finishes below step-up level but at or above initial level, par plus 41.57%; full exposure to losses
Call:	If index closes at or above initial level on call observation date, the notes will be called at par of $10 plus a premium of $0.85 if called on Feb. 21, 2014 and $1.70 if called on Feb. 20, 2015
Initial level:	1,502.42
Step-up value:	2,126.98, 141.57% of initial value
Pricing date:	Feb. 21
Settlement date:	Feb. 28
Agent:	BofA Merrill Lynch
Fees:	2%
Cusip:	06053E326

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