New Issue: Bank of America prices $40.51 million market-linked step-up notes on S&P 500

By Susanna Moon

Chicago, Feb. 3 - Bank of America Corp. priced $40.51 million of 0% market-linked step-up notes due Jan. 25, 2016 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above the step-up value - 112.02% of the initial value - the payout at maturity will be par plus the index return.

If the index gains by up to the step-up value, the payout will be par plus the step-up payment of 12.02%.

Otherwise, 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:	$40,512,530
Maturity:	Jan. 25, 2016
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes above step-up value, par plus return; if index gains by up to step-up value, par plus 12.02%; par; otherwise, exposure to any losses
Initial index level:	1,794.19
Step-up level:	2,009.85, or 112.02% of initial level
Pricing date:	Jan. 30
Settlement date:	Feb. 6
Underwriters:	BofA Merrill Lynch
Fees:	2%
Cusip:	06053G669

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