By Angela McDaniels
Tacoma, Wash., June 3 - Bank of America Corp. priced $11.85 million of 0% market-linked step-up notes due May 29, 2015 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the MSCI EAFE index, the MSCI Emerging Markets index, the Russell 2000 index and the S&P 500 index, each with a 25% weight.
The payout at maturity will be par of $10 plus the basket return if the final basket level is greater than the step-up value, which is 113.75% of the initial basket level.
If the final basket level is greater than or equal to the initial basket level but less than or equal to the step-up value, the payout at maturity will be par plus 13.75%.
Investors will be exposed to any basket decline.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Market-linked step-up notes
|
| Underlying indexes: | MSCI EAFE index, MSCI Emerging Markets index, Russell 2000 index and S&P 500 index, equally weighted
|
| Amount: | $11,847,780
|
| Maturity: | May 29, 2015
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If basket finishes above step-up value, par plus basket return; if basket finishes at or above initial level but at or below step-up value, par plus 13.75%; full exposure to any basket decline
|
| Initial index levels: | 1,654.41 for S&P 500; 1,723.19 for MSCI EAFE index; 1,016.02 for MSCI Emerging Markets; 994.43 for Russell 2000
|
| Step-up value: | 113.75% of initial basket level
|
| Pricing date: | May 30
|
| Settlement date: | June 6
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06053E839
|
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