By Angela McDaniels
Tacoma, Wash., Oct. 5 - Bank of America Corp. priced $10.95 million of 0% market-linked step-up notes due Oct. 24, 2014 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 30% weight, the Euro Stoxx 50 index with a 20% weight, the MSCI Emerging Markets index with a 20% weight, the S&P MidCap 400 index with a 15% weight and the Russell 2000 index with a 15% weight.
If the final basket level is greater than the step-up value, the payout at maturity will be par of $10 plus the basket return. The step-up value is 121.25% of the initial basket level.
If the final basket level is greater than or equal to the initial level but less than or equal to the step-up value, the payout will be par plus 21.25%.
If the final basket level is less than the initial level, investors will share fully in the basket's decline.
Bank of America Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Market-linked step-up notes
|
| Underlying indexes: | S&P 500 index (30% weight), Euro Stoxx 50 index (20% weight), MSCI Emerging Markets index (20% weight), S&P MidCap 400 index (15% weight) and Russell 2000 index (15% weight)
|
| Amount: | $10,948,000
|
| Maturity: | Oct. 24, 2014
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final basket level is greater than step-up value, par plus basket return; if final basket level is greater than or equal to initial level but less than or equal to step-up value, par plus 21.25%; if final basket level is less than initial level, full exposure to basket decline
|
| Initial basket level: | 100
|
| Step-up value: | 121.25, 121.25% of basket's initial level
|
| Pricing date: | Oct. 3
|
| Settlement date: | Oct. 11
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06053D534
|
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