New Issue: Bank of America prices $1.5 million autocallable range accrual notes on Libor, S&P 500

By Susanna Moon

Chicago, July 12 - Bank of America Corp. priced $1.5 million of autocallable range accrual notes due July 13, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will accrue at an annualized rate for each day that six-month Libor is 6% or less and the index closes at or above strike level, which is 80% of the initial level. The rate will be 7% for the five years, stepping up to 8% for years six through 10 and to 10% after that until maturity. Interest is payable quarterly.

The payout at maturity will be par.

The notes will be called at par if the index closes above the call level - 130% of the initial level - on any quarterly observation date after one year.

Bank of America Merrill Lynch is the agent.

Issuer:	Bank of America Corp.
Issue:	Autocallable range accrual notes
Underlying index:	S&P 500 index
Amount:	$1.5 million
Maturity:	July 13, 2027
Coupon:	For each day that index closes at or above strike level and 6-month Libor is 6% or less, interest will accrue at 7% through year five, stepping up to 8% for years six through 10 and to 10% for years 11 through 15; payable quarterly
Price:	Par of $10.00
Payout at maturity:	Par
Call:	At par if index closes above call level on any quarterly observation date from July 13, 2013 through April 13, 2027
Index strike level:	1,073.18, or 80% of initial level
Call level:	1,743.91, or 130% of initial level
Pricing date:	July 10
Settlement date:	July 13
Agent:	Bank of America Merrill Lynch
Fees:	4%
Cusip:	06048WMV9

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