By Marisa Wong
Madison, Wis., April 16 - Bank of America Corp. priced $6.88 million of 0% bear Strategic Accelerated Redemption Securities due Oct. 26, 2012 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is less than or equal to the initial index level, the notes will be called and investors will receive $11.25 for each $10.00 principal amount of notes.
If the notes are not called, investors will lose an amount equal to the index gain.
Bank of America Merrill Lynch is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Bear Strategic Accelerated Redemption Securities
|
| Underlying index: | Russell 2000
|
| Amount: | $6,877,300
|
| Maturity: | Oct. 26, 2012
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par minus 1% for every 1% that index advances
|
| Call: | Automatically at 112.5% of par if final index level is less than or equal to initial index level
|
| Initial index level: | 808.59
|
| Pricing date: | April 12
|
| Settlement date: | April 16
|
| Underwriter: | Bank of America Merrill Lynch
|
| Fees: | 1%
|
| Cusip: | 06051R709
|
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