New Issue: Bank of America sells $37.27 million capped leveraged notes on S&P 500

By Susanna Moon

Chicago, June 28 - Bank of America Corp. priced $37.27 million of 0% Capped Leveraged Index Return Notes due June 29, 2012 based on the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus double any gain in the index, up to a maximum payout of $12.556 per note.

Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.

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

Issuer:	Bank of America Corp.
Issue:	Capped Leveraged Index Return Notes
Underlying index:	S&P 500
Amount:	$37,266,750
Maturity:	June 29, 2012
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 200% of any index gain, capped at 25.56%; 1% loss for every 1% drop beyond 10%
Initial index level:	1,073.69
Threshold level:	966.32, 90% of initial level
Pricing date:	June 24
Settlement date:	July 2
Agents:	Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC
Fees:	2%
Cusip:	06052K281

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