New Issue: BofA prices $12.55 million market-linked step-up notes on S&P 500

By Jennifer Chiou

New York, March 28 - Bank of America Corp. priced $12.55 million of 0% market-linked step-up notes due March 22, 2013 linked to the S&P 500 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 15.5%.

Investors will share in losses.

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

Issuer:	Bank of America Corp.
Issue:	Market-linked step-up notes
Underlying index:	S&P 500
Amount:	$12,546,040
Maturity:	March 22, 2013
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus greater of index gain and 15.5%; exposure to losses
Initial index level:	1,309.66
Pricing date:	March 24
Settlement date:	April 1
Agent:	Merrill Lynch, Pierce, Fenner & Smith Inc.
Fees:	2%
Cusip:	06050R171

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