Bank of America plans Stars linked to iShares MSCI EAFE and EM funds

By Toni Weeks

San Diego, March 28 - Bank of America Corp. plans to price 0% Strategic Accelerated Redemption Securities due May 2012 linked to an international equity basket, according to an FWP filing with the Securities and Exchange Commission.

The basket includes equal weights of the iShares MSCI EAFE index fund and the iShares MSCI Emerging Markets index fund.

If the basket closes above its initial value on any of three observation dates, the notes will be called at par of $10 plus an annualized call premium of 8% to 12%. The exact call premium will be determined at pricing.

Investors will receive par at maturity if the basket falls by up to 5% and will be exposed to losses beyond 5%.

The notes will price in April and settle in May.

Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.

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