By Jennifer Chiou
New York, Dec. 29 – Bank of America Corp. priced $10 million of commodity-linked notes due Feb. 1, 2016 linked to the Bloomberg Commodity Index Total Return, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be equal to Libor and will be payable at maturity.
The notes will be redeemable beginning on Dec. 31, 2014 if the index finishes below the lower mandatory redemption trigger level, which is 85% of the starting level.
If the index return is positive, the payout at maturity will be par of $100,000 plus 300% of the index return.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
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| Issue: | Commodity-linked notes
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| Underlying index: | Bloomberg Commodity Index Total Return
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| Amount: | $10 million
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| Maturity: | Feb. 1, 2016
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| Coupon: | Libor, payable at maturity
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| Price: | Par of $100,000
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| Payout at maturity: | If index return is positive, par plus 300% of index return
|
| Initial level: | 216.7093
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| Trigger level: | 85% of initial level
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| Pricing date: | Dec. 23
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| Settlement date: | Dec. 31
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| Agent: | BofA Merrill Lynch
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| Fees: | None
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| Cusip: | 06048WQC7
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