New Issue: Bank of America prices $19.75 million STEP Income Securities linked to Toll Brothers

New York, May 12 - Bank of America Corp. priced $19.75 million of 7.5% STEP Income Securities due May 22, 2015 tied to Toll Brothers, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

If the stock finishes at or above the step level of $36.69, 107.50% of the initial price, the payout at maturity will be par plus 3.36%. If the stock finishes at or above the initial share price but below the step level, the payout will be par. Investors will lose 1% for every 1% decline in the stock.

Merrill Lynch & Co. is the underwriter.

Issuer:	Bank of America Corp.
Issue:	STEP Income Securities
Underlying stock:	Toll Brothers, Inc.
Amount:	$19,745,590
Maturity:	May 22, 2015
Coupon:	7.5%
Price:	Par
Payout at maturity:	If stock finishes at or above the step level of $36.69, 107.50% of the initial price, par plus 3.36%; if stock finishes at or above initial share price but below step level, par; 1% loss for every 1% decline
Initial price:	$34.13
Pricing date:	May 8
Settlement date:	May 15
Underwriters:	Merrill Lynch & Co.
Fees:	1.75%
Cusip:	06053M138

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