New Issue: Bank of America prices $13.48 million market-linked step up notes tied to MSCI EAFE

By Marisa Wong

Milwaukee, June 28 - Bank of America Corp. priced $13.48 million of 0% market-linked step up notes due June 29, 2012 linked to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above the initial level, the payout at maturity will be par of $10 plus the greater of the step up payment and the index return. The step up payment is 22.25%.

Investors will be exposed to any index decline.

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

Issuer:	Bank of America Corp.
Issue:	Market-linked step up notes
Underlying index:	MSCI EAFE
Amount:	$13,476,460
Maturity:	June 29, 2012
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus greater of index gain and 22.25%; full exposure to losses
Initial index level:	1,395.48
Pricing date:	June 24
Settlement date:	July 2
Agents:	Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC
Fees:	2%
Cusip:	06052K273

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