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Bank of America plans 10%-12% callable yield notes on indexes, EM fund
By Susanna Moon
Chicago, March 1 - Bank of America Corp. plans to price 10% to 12% callable yield notes due March 19, 2013 linked to the S&P 500 index, the Russell 2000 index and the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless any underlying component falls to or below its knock-in level - 70% of its initial level - on any day during the life of the notes, in which case investors will receive par plus the return of the worst-performing component, up to a maximum payout of par.
Bank of America Merrill Lynch is the agent.
The notes will settle on March 19.
The Cusip number is 06048WKY5.
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