By Toni Weeks
San Luis Obispo, Calif., Jan. 6 – Bank of America Corp. priced $8.5 million of commodity-linked notes due Feb. 9, 2016 linked to the Bloomberg Commodity Index 2 Month Forward Total Return, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be equal to three-month Libor and will be payable at maturity.
The notes will be redeemable beginning on Jan. 9, 2015 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 minus an investor fee of up to 0.16%.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Commodity-linked notes
|
| Underlying index: | Bloomberg Commodity Index 2 Month Forward Total Return
|
| Amount: | $8.5 million
|
| Maturity: | Feb. 9, 2016
|
| Coupon: | Three-month Libor, payable at maturity
|
| Price: | Par of $100,000
|
| Payout at maturity: | If index return is positive, par plus 300% of index return, minus investor fee of up to 0.16%
|
| Call option: | At par if index finishes below 85% lower mandatory redemption trigger level
|
| Initial level: | 454.5832
|
| Trigger level: | 85% of initial level
|
| Pricing date: | Jan. 2
|
| Settlement date: | Jan. 9
|
| Agent: | BofA Merrill Lynch
|
| Fees: | None
|
| Cusip: | 06048WQE3
|
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