Bank of America plans one-year Stars linked to iShares MSCI EAFE, EM

By Susanna Moon

Chicago, April 29 - Bank of America Corp. plans to price 0% Strategic Accelerated Redemption Securities due June 2012 linked to equal weights of the iShares MSCI EAFE index fund and the iShares MSCI Emerging Markets index fund, according to an FWP filing with the Securities and Exchange Commission.

If the basket closes at or above the initial level on any of three observation dates, the notes will be called at par of $10 plus a premium of 8% to 12% per year. The observation dates will be in November 2011, February 2012 and May 2012. The exact premium and dates will be set at pricing.

The payout at maturity will be par if the final basket level is at least 95% of the initial basket level. Investors will be exposed to any decline below the threshold level.

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

The notes will price in May and settle in June.

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