By Marisa Wong
Madison, Wis., June 18 - Bank of America Corp. priced $1 million of 9.25% autocallable yield notes due June 19, 2013 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be automatically called at par if the closing level of each index is at or above its initial level on any quarterly call observation date. The observation dates are Sept. 5, Dec. 5 and March 5, 2013.
A knock-in event occurs if either index closes at or below its knock-in level - 65% of its initial level - on any day during the life of the notes.
If a knock-in event occurs, the payout at maturity will be par plus the return of the worse-performing index, subject to a maximum payout of par. If a knock-in event does not occur, the payout will be par.
Bank of America Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500 index and Russell 2000 index
|
| Amount: | $1 million
|
| Maturity: | June 19, 2013
|
| Coupon: | 9.25%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If either index closes at or below knock-in level, par plus the return of the worse-performing index, subject to a maximum payout of par; otherwise, par
|
| Call: | At par if closing level of each index is at or above its initial level on Sept. 5, Dec. 5 or March 5, 2013
|
| Initial levels: | 1,329.10 for S&P and 762.34 for Russell
|
| Knock-in levels: | 863.92 for S&P and 495.52 for Russell, 65% of initial levels
|
| Pricing date: | June 14
|
| Settlement date: | June 19
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | 2.25%
|
| Cusip: | 06048WMR8
|
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