By Susanna Moon
Chicago, Feb. 22 - Bank of America Corp. priced $9.62 million of step-up callable notes due Feb. 23, 2032, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 5.25% for the first 10 years, stepping up to 6% through year 15 and to 7% after that. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after one year.
Bank of America Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Step-up callable notes
|
| Amount: | $9,617,000
|
| Maturity: | Feb. 23, 2032
|
| Coupon: | 5.25% initially, stepping up to 6% for years 11 through 15 and 7% after that; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning Feb. 23, 2013
|
| Pricing date: | Feb. 17
|
| Settlement date: | Feb. 23
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | 2.5%
|
| Cusip: | 06048WKQ2
|
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