By Angela McDaniels
Tacoma, Wash., May 29 - Bank of America Corp. priced $5.82 million of 0% market-linked step-up notes due May 29, 2015 linked to the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the step-up value, the payout at maturity will be par of $10 plus the index return. The step-up value is 138.5% of the initial index level.
If the final index 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 38.5%.
Investors will receive par if the index falls by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
Bank of America Merrill Lynch is the agent.
Issuer: | Bank of America Corp.
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Issue: | Market-linked step-up notes
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Underlying index: | MSCI Emerging Markets
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Amount: | $5,822,500
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Maturity: | May 29, 2015
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If final index level is greater than step-up value, par plus index return; if final index level is greater than or equal to initial level but less than or equal to step-up value, par plus 38.5%; par if index falls by 10% or less; 1% loss for every 1% that index declines beyond 10%
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Initial index level: | 902.09
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Step-up value: | 1,249.39, 138.5% of initial index level
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Threshold value: | 811.88, 90% of initial index level
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Pricing date: | May 24
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Settlement date: | June 1
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Agent: | Bank of America Merrill Lynch
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Fees: | 2.25%
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Cusip: | 06051R873
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