New Issue: Bank of America prices $16.78 million market-linked step-up autocallables on S&P 500

By Susanna Moon

Chicago, April 29 - Bank of America Corp. priced $16.78 million of autocallable market-linked step-up notes due April 28, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a call premium of 7% if the index closes at or above its initial level on either call annual date.

If the index finishes above the step-up value - 123.07% of the initial level - the payout at maturity will be par plus the index gain.

If the index finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 23.07%.

Investors will be exposed to any losses.

BofA Merrill Lynch is the agent.

Issuer:	Bank of America Corp.
Issue:	Autocallable market-linked step-up notes
Underlying index:	S&P 500
Amount:	$16,783,870
Maturity:	April 28, 2017
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index finishes above step-up value, par plus index gain; if index finishes at or below step-up level but at or above initial level, par plus 23.07%; otherwise, exposure to any losses
Initial index level:	1,878.61
Step-up value:	2,312.01, 123.07% of initial level
Call:	At par plus 7% annualized if index closes at or above initial level on April 27, 2015 or April 22, 2016
Pricing date:	April 24
Settlement date:	May 1
Underwriter:	BofA Merrill Lynch
Fees:	2%
Cusip:	06053G867

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