New Issue: Bank of America prices $6.12 million step-up notes tied to currencies

By Jennifer Chiou

New York, May 3 - Bank of America Corp. priced $6.12 million of 0% currency-linked step-up notes due April 29, 2014 linked to the performance of a basket of currencies relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes equal weights of the Norwegian krone, the Swedish krona, the British pound and the euro.

If the basket appreciates relative to the dollar or remains flat, the payout at maturity will be par of $10 plus the greater of the basket return and 14.7%.

Investors will be exposed to the decline if the basket depreciates relative to the dollar, subject to a minimum payout of 90% of par.

Merrill Lynch is the agent.

Issuer:	Bank of America Corp.
Issue:	Currency-linked step-up notes
Underlying currencies:	Norwegian krone, Swedish krona, British pound and euro, equally weighted against dollar
Amount:	$6,116,000
Maturity:	April 29, 2014
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus greater of basket return and 14.7% if basket appreciates relative to dollar or remains flat; exposure to decline if basket depreciates relative to dollar, subject to minimum payout of 90% of par
Initial spot rates:	5.2637 for Norwegian krone, 6.0231 for Swedish krona, 1.6647 for British pound and 1.4823 for euro
Pricing date:	April 28
Settlement date:	May 5
Agent:	Merrill Lynch
Fees:	2%
Cusip:	06050R429

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