New Issue: Bank of America prices $61.65 million Accelerated Return Notes linked to S&P 500

By Jennifer Chiou

New York, Aug. 28 - Bank of America Corp. priced $61.65 million of 0% Accelerated Return Notes due Oct. 29, 2010 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus three times any index gain, subject to a maximum return of 24.72%. Investors will be fully exposed to any index decline.

Application has been made to list the notes on the NYSE Arca under "SPC."

Merrill Lynch, Pierce, Fenner & Smith Inc., First Republic Securities Co., LLC and Banc of America Investment Services, Inc. are the underwriters.

Issuer:	Bank of America Corp.
Issue:	Accelerated Return Notes
Underlying index:	S&P 500
Amount:	$61.65 million
Maturity:	Oct. 29, 2010
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus three times any index gain, up to maximum return of 24.72%; full exposure to any index decline
Initial index level:	1,028.12
Pricing date:	Aug. 26
Settlement date:	Sept. 3
Underwriters:	Merrill Lynch, Pierce, Fenner & Smith Inc., First Republic Securities Co., LLC and Banc of America Investment Services, Inc.
Fees:	2%

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