New Issue: Bank of America prices $11.42 million STEP Income Securities on Splunk

New York, Nov. 3 – Bank of America Corp. priced $11.42 million of 11.5% STEP Income Securities due Nov. 16, 2015 tied to Splunk Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

If the stock finishes at or above the step level of $72.73, 111.50% of the initial price, the payout at maturity will be par plus 4.96%. If the stock finishes below the step level but at or above the threshold value, 95% of the initial level, the payout will be par. Investors will be exposed to any losses beyond the 95% threshold level.

Merrill Lynch & Co. is the underwriter.

Issuer:	Bank of America Corp.
Issue:	STEP Income Securities
Underlying stock:	Splunk Inc.
Amount:	$11,418,580
Maturity:	Nov. 16, 2015
Coupon:	11.5%, payable quarterly
Price:	Par
Payout at maturity:	If stock finishes at or above the step level of $72.73, 111.50% of the initial price, par plus 4.96%; if stock finishes below step level but at or above threshold level, 95% of initial level, par; 1% loss for every 1% decline beyond 95% threshold level
Initial price:	$65.23
Step level:	$72.73, 111.5% of initial level
Threshold value:	$61.97, 95% of initial level
Pricing date:	Oct. 30
Settlement date:	Nov. 7
Underwriters:	Merrill Lynch & Co.
Fees:	1.75%
Cusip:	06053M583

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