New Issue: Bank of America prices $37.14 million Accelerated Return Notes linked to crude oil

By Angela McDaniels

Tacoma, Wash., Dec. 23 - Bank of America Corp. priced $37.14 million of 0% Accelerated Return Notes due Feb. 24, 2011 linked to the price of light sweet crude oil, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any increase in the price of oil, subject to a maximum return of 18%. Investors will be exposed to any decline in the price of oil.

Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC are the underwriters.

Issuer:	Bank of America Corp.
Issue:	Accelerated Return Notes
Underlying commodity:	Light sweet crude oil
Amount:	$37.14 million
Maturity:	Feb. 24, 2011
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus triple any increase in the price of oil, up to maximum return of 18%; exposure to any decline in the price of oil
Initial price:	$72.47
Pricing date:	Dec. 21
Settlement date:	Dec. 30
Underwriters:	Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC
Fees:	2%

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