New Issue: Bank of America prices $29.87 million step-up notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Oct. 28 - Bank of America Corp. priced $29.87 million of 0% market-linked step-up notes due Oct. 23, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above the step-up level, 112.35% of the initial index level, the payout at maturity will be par of $10 plus the index return.

If the index return is zero or positive but the index finishes at or below the step-up level, the payout will be par plus 12.35%.

If the index return is negative, investors will be fully exposed to the decline.

BofA Merrill Lynch is the underwriter.

Issuer:	Bank of America Corp.
Issue:	Market-linked step-up notes
Underlying index:	S&P 500
Amount:	$29,874,320
Maturity:	Oct. 23, 2015
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index finishes above step-up level, par plus index return; if index is flat or increases up to step-up level, par plus 12.35%; full exposure to any index decline
Initial index level:	1,752.07
Step-up level:	1,968.45, 112.35% of initial level
Pricing date:	Oct. 24
Settlement date:	Oct. 31
Underwriter:	BofA Merrill Lynch
Fees:	2%
Cusip:	06053F836

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