Bank of America plans Stars linked to iShares MSCI EAFE, EM funds

By Jennifer Chiou

New York, Feb. 24 - Bank of America Corp. plans to price 0% Strategic Accelerated Redemption Securities due April 2012 linked to equal weights of the iShares MSCI EAFE index fund and the iShares MSCI Emerging Markets index fund, according to an FWP with the Securities and Exchange Commission.

If the basket closes at or above its initial level on any of the observation dates, the notes will be called at par of $10 plus a premium of 8% to 12% per year.

The payout at maturity will be par if the basket finishes at or above the threshold level - 95% of the initial level - and investors will be exposed to any decline below the threshold level.

The notes will price in March and settle in April.

The exact deal terms will be set at pricing.

Merrill Lynch, Pierce, Fenner & Smith Inc. is the underwriter.

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