New Issue: Bank of America prices $2.5 million 0% Steepls linked to Dow Industrials

By Jennifer Chiou

New York, Dec. 21 - Bank of America priced a $2.5 million offering of 0% unsecured senior notes in the Strategic Equity Exposure Performance Linked Securities (Steepls) structure due March 26, 2009 linked to the Dow Jones Industrial Average, according to a 424B5 filing with the Securities and Exchange Commission.

At maturity, investors will receive double the gain on the index, capped at 20%. Investors will share in any losses.

Banc of America Securities LLC and Banc of America Investment Services Inc. are the agents.

Issuer:	Bank of America
Issue:	Senior notes in the Strategic Equity Exposure Performance Linked Securities (Steepls) structure
Underlying index:	Dow Jones Industrial Average
Amount:	$2.5 million
Maturity:	March 26, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus double the gain on the index, capped at 20%; investors will share in any losses
Pricing date:	Dec. 20
Settlement date:	Dec. 26
Agents:	Banc of America Securities LLC, Banc of America Investment Services Inc.
Fees:	1.25%

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