Bank of America to price $4 million Eagles linked to S&P 500

By Angela McDaniels

Seattle, June 15 - Bank of America plans to price $4 million of 0% Minimum Return Equity Appreciation Growth Linked Securities (Index Eagles) due June 25, 2009 linked to the S&P 500 index, according to a 424B5 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus the return on the index during each of the eight three-month periods making up the life of the notes. The minimum payout at maturity will be par plus 2%, and the return in each period will be subject to a cap that is expected to be 4.5% and will be determined at pricing.

The notes are expected to price on June 21 and settle on June 26.

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

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