New Issue: Bank of America prices $33.59 million step-up notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., July 2 - Bank of America Corp. priced $33.59 million of market-linked step-up notes due June 26, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the step-up value, the payout at maturity will be par plus the index return. The step-up value is 129% of the initial index level.

If the final index level is greater than or equal to the initial level but less than or equal to the step-up value, the payout will be par plus 29%.

Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% that it declines beyond 15%.

Bank of America Merrill Lynch is the agent.

Issuer:	Bank of America Corp.
Issue:	Market-linked step-up notes
Underlying index:	S&P 500
Amount:	$33,591,850
Maturity:	June 26, 2015
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is greater than step-up value, par plus index return; if final index level is greater than or equal to initial level but less than or equal to step-up value, par plus 29%; par if index falls by up to 15%; 1% loss for every 1% decline beyond 15%
Initial level:	1,329.04
Step-up value:	1,714.46, 129% of initial value
Threshold value:	1,129.68, 85% of initial level
Pricing date:	June 28
Settlement date:	July 6
Agent:	Bank of America Merrill Lynch
Fees:	2.25%
Cusip:	06051R329

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