By Angela McDaniels
Tacoma, Wash., Nov. 23 - Bank of America Corp. priced $6.7 million of 9% callable Stock Return Income Debt Securities due Dec. 5, 2011 payable at maturity with shares of Amazon.com, Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The payout at maturity will be a number of Amazon.com shares equal to par of $25 divided by the initial volume-weighted average share price, which was $129.04.
The notes are callable with a yield to call of 15.4% beginning one year after issue.
Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC are the underwriters.
| Issuer: | Bank of America Corp.
|
| Issue: | Callable Stock Return Income Debt Securities
|
| Underlying stock: | Amazon.com, Inc. (Nasdaq: AMZN)
|
| Amount: | $6.7 million
|
| Maturity: | Dec. 5, 2011
|
| Coupon: | 9%, payable quarterly
|
| Price: | Par of $25.00
|
| Payout at maturity: | 0.19373838 Amazon.com shares per note
|
| Initial VWAP: | $129.04
|
| Call option: | With yield to call of 15.4% beginning one year after issue
|
| Pricing date: | Nov. 19
|
| Settlement date: | Nov. 30
|
| Underwriters: | Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC
|
| Fees: | 2%
|
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