New Issue: BofA prices $10.47 million step-up notes linked to Asian currencies

By Susanna Moon

Chicago, Jan. 31 - Bank of America Corp. priced $10.47 million of 0% currency-linked step-up notes due Feb. 4, 2014 based on the performance of a basket of four equally weighted currencies relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.

The underlying currencies are the Singapore dollar, the Philippine peso, the Malaysian ringgit, and the Indonesian rupiah.

If the basket finishes at or below the step value of 123.5% of the initial level, the payout at maturity will be par of $10 plus the step-up payment of $2.35.

Otherwise, the payout will be par plus any gain.

Investors will share in any basket decline, with a minimum payout of $9.00 per note.

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

Issuer:	Bank of America Corp.
Issue:	Currency-linked step-up notes
Underlying currencies:	Singapore dollar, the Philippine peso, the Malaysian ringgit, and the Indonesian rupiah, equally weighted against dollar
Amount:	$10,465,780
Maturity:	Feb. 4, 2014
Coupon:
Price:	Par of $10
Payout at maturity:	Par plus 23.5% if basket finishes at or below step value; otherwise, par plus any gain; floor of 90% of par
Call option:	At par on any interest payment date
Initial spot rates:	1.2793 for Singapore dollar, 44.1760 for Philippine peso, 3.0518 for ringgit and 9,035.0000 for rupiah
Pricing date:	Jan. 27
Settlement date:	Feb. 4
Underwriter:	Merrill Lynch, Pierce, Fenner & Smith Inc.
Fees:	2%
Cusip:	06052R518

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