New Issue: Bank of America prices $16.23 million STEP Income Securities linked to Continental Resources

New York, April 27 – Bank of America Corp. priced $16.23 million of 1% STEP Income Securities due May 6, 2016 tied to Continental Resources, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

If the stock finishes at or above the step level of $58.40, 110% of the initial price, the payout at maturity will be par plus 4.80%. 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:	Continental Resources, Inc.
Amount:	$16,230,450
Maturity:	May 6, 2016
Coupon:	1%
Price:	Par
Payout at maturity:	If stock finishes at or above the step level of $58.40, 110% of the initial price, par plus 4.80%; if stock finishes at or above initial share price but below step level, par; 1% loss for every 1% decline
Initial price:	$53.09
Pricing date:	April 23
Settlement date:	April 30
Underwriters:	Merrill Lynch & Co.
Fees:	1.75%
Cusip:	06053W334

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