Bank of America to price buffered Steeples linked to five indexes

By Angela McDaniels

Tacoma, Wash., April 1 - Bank of America Corp. plans to price 0% buffered Strategic Equity Exposure Performance Linked Securities (Steepls) due April 26, 2010 linked to a basket of indexes, according to a 424B5 filing with the Securities and Exchange Commission.

The basket will include the Dow Jones Industrial Average with a 68% weight, the S&P MidCap 400 index with a 10% weight, the Dow Jones Euro Stoxx 50 and Nikkei 225 indexes, each with a 7.5% weight, and the S&P Small Cap 600 index with a 7% weight.

The payout at maturity will be par plus double any basket gain, subject to a maximum return that is expected to be 18% to 22% and will be set on pricing. Investors will receive par if the basket declines by 10% or less and will lose 1% for each 1% decline beyond 10%.

The notes will price and settle in April.

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

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