New Issue: Bank of America prices $7.3 million 0% Steepls linked to three indexes

By Jennifer Chiou

New York, May 23 - Bank of America priced $7.3 million of 0% unsecured senior notes due Aug. 25, 2008 structured as Strategic Equity Exposure Performance Linked Securities (Steepls) linked to a basket of three indexes, according to a 424B5 filing with the Securities and Exchange Commission.

The basket contains equal weights of the S&P 500 index, the Dow Jones Euro Stoxx 50 index and the Nikkei 225 index.

The payout at maturity will be par plus double any percentage increase in the basket, capped at 22%. 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:	Strategic Equity Exposure Performance Linked Securities (Steepls)
Underlying indexes:	S&P 500, Dow Jones Euro Stoxx 50, Nikkei 225, equally weighted
Amount:	$7.3 million
Maturity:	Aug. 25, 2008
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus double any basket gain, capped at 22%; full exposure to any loss
Pricing date:	May 22
Settlement date:	May 25
Agents:	Banc of America Securities LLC and Banc of America Investment Services, Inc.
Fees:	1.25%

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