New Issue: Bank of America sells $15.21 million bear market Stars tied to S&P 500

By Marisa Wong

Milwaukee, Sept. 25 - Bank of America Corp. priced $15.21 million of 0% bear market Strategic Accelerated Redemption Securities due Dec. 28, 2010 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par of $10 plus a fixed call premium of 11.51% per year if the closing level of the index on Dec. 20 is less than or equal to its initial value.

If the notes are not called, the payout at maturity will be par plus the absolute value of any index decline. Investors will share in losses based on gains in the index with no downside protection.

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

Issuer:	Bank of America Corp.
Issue:	Bear market Strategic Accelerated Redemption Securities
Underlying index:	S&P 500
Amount:	$15,206,700
Maturity:	Dec. 28, 2010
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus absolute value of any index decline; investors will share in losses based on index gains with no downside protection
Call:	At par of $10 plus call premium of 11.51% per year if closing index level on Dec. 20 is at or below initial level
Initial index level:	1,073.69
Pricing date:	June 24
Settlement date:	July 2
Underwriters:	Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC
Fees:	1%
Cusip:	06052K331

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