New Issue: Bank of America prices $90.47 million market-linked step-up notes tied to S&P 500

New York, July 1 - Bank of America Corp. priced $90.47 million of 0% market-linked step-up notes due June 22, 2018 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above the step-up value - 134.85% of the initial value - the payout at maturity will be par plus the index return.

If the index return is zero or positive but the index finishes at or below the step-up value, the payout will be par plus the step-up payment of 34.85%.

Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% decline in the index beyond 20%.

BofA Merrill Lynch is the underwriter.

Issuer:	Bank of America Corp.
Issue:	Market-linked step-up notes
Underlying index:	S&P 500
Amount:	$90,473,590
Maturity:	June 22, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes above step-up value, par plus index return; if index stays flat or gains but finishes at or below step-up value, par plus 34.85%; par if index falls by up to 20%; 1% loss for every 1% decline beyond 20%
Initial index level:	1,613.20
Step-up value:	2,175.4, 134.85% of initial value
Threshold value:	1,290.56, 80% of initial value
Pricing date:	June 27
Settlement date:	July 5
Underwriter:	BofA Merrill Lynch
Fees:	2.5%
Cusip:	06053F158

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