New Issue: Bank of America sells $10.2 million market-linked step-up notes tied to Russell 2000

By Toni Weeks

San Diego, Oct. 3 - Bank of America Corp. priced $10.2 million of 0% market-linked step-up notes due Sept. 25, 2015 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above the step-up value - 171.15% of the initial level - the payout at maturity will be par of $10 plus the index return.

If the index finishes at or above the initial level but is less than or equal to the step-up value, the payout at maturity will be par of $10 plus the step-up payment of 71.15%.

Investors will receive par if the index declines by up to 15% and will be exposed to losses beyond 15%.

Bank of America Merrill Lynch is the agent.

Issuer:	Bank of America Corp.
Issue:	Market-linked step-up notes
Underlying index:	Russell 2000
Amount:	$10,201,150
Maturity:	Sept. 25, 2015
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index finishes above 171.15% of initial level, par plus index return; if index finishes at or above initial level but less than or equal to step-up value, par plus 71.15%; par for index declines up to 15%; exposure to losses beyond 15%
Initial level:	662.80
Step-up value:	1,134.38, 171.15% of initial level
Threshold value:	563.38, 85% of starting value
Pricing date:	Sept. 29
Settlement date:	Oct. 6
Agent:	Bank of America Merrill Lynch
Fees:	2.5%
Cusip:	06051N567

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