Bank of America plans Strategic Accelerated Redemption Securities on S&P

By Wendy Van Sickle

Columbus, Ohio, May 3 – Bank of America Corp. plans to price Strategic Accelerated Redemption Securities due June 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at a premium of 10.7% to 11.1% per year if the closing level of the index is greater than its starting value on any of three observation dates.

If the notes are not called, investors will be fully exposed to any decline in the index.

BofA Merrill Lynch is the agent.

The notes will price in May and settle in June.

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