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Delta 1 Certificate on a Basket

of Swiss Shares
Terms & Conditions as of 15 February 2012
The security described herein (the Securities or Certificates) are collateralised in accordance with the terms and
conditions of the SIX Swiss Exchange Framework Agreement for Collateral Secured Instruments. Detailed information
regarding the collateralisation can be found in the section: "Information about Collateralisation" below.
This document does not constitute a simplified prospectus pursuant to Article 5 of the Federal Act on Collective Investment
Schemes. Until the terms are final, they are indicative and may, therefore, be amended. The information contained in this
document is of summary nature.
We make no representation and have given you no advice concerning the appropriate accounting treatment or possible tax
consequences of this indicative transaction.
The terms outlined herein represent only a summary of the terms and conditions of the Securities which are issued by Merrill
Lynch Capital Markets AG under a prospectus consisting of an offering circular and integrated final terms (together the
Prospectus) and guaranteed by Bank of America Corporation. The complete and legally binding terms and conditions of
the Securities are set forth in the Prospectus which may be obtained directly from Merrill Lynch Capital Markets AG,
Stockerstrasse 23, 8002 Zurich, Switzerland.
Capitalised terms not defined herein shall have the meaning ascribed to them in the Prospectus.
INVESTING IN THE SECURITIES PUTS YOUR CAPITAL AT RISK. YOU MAY LOSE SOME OR ALL OF YOUR
INVESTMENT.
This communication is furnished at the request of the recipient for the exclusive purpose of identifying the Securities or other
instrument referred to herein. It is furnished for your private information with the express understanding, which recipient
acknowledges, that it does not constitute an offer of such security or a means by which such security may be offered or sold.
Any written offer of such security may be made only by means of an offering document and any related supplements
thereto.
The Securities described herein are not for sale in the United States or to U.S. persons and this communication may not be
distributed in the United States.
No prospectus as defined in the EU Prospectus Directive 2003/71/EC (Prospectus Directive) will be prepared in
connection with the Securities. Accordingly, the Securities may not be offered to the public in any European Economic Area
(EEA) member state and any purchaser of the Securities who subsequently sells any of the Securities in any EEA member
state must do so only in accordance with the requirements of the Prospectus Directive as implemented in that member
state.
In Switzerland, these Securities constitute structured products within the meaning of the Swiss Federal Act on
Collective Investment Schemes (the CISA), as amended, and therefore do not qualify as a unit of a collective
investment scheme according to the relevant provisions of CISA and are not subject to registration or supervision
by the Swiss Financial Market Supervisory Authority FINMA. Accordingly, investors do not have the benefit of the
specific investor protection provided under the CISA and are exposed to the credit risk of the Issuer and the
Guarantor.

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1. Product Description
Product Category: 1300, according to the Swiss Derivative Map- www.svsp-verband.ch
The Securities are linked to the price movements of the basket of Underlying Shares.
The Securities are not principal protected.
GENERAL TERMS
Merrill Lynch Capital Markets AG, Stockerhof, Stockerstrasse 23, 8002
Zurich, Switzerland.
Bank of America Corporation (a Delaware (U.S.A.) Corporation) with
headquarters and principal place of business located at 100 North
Tryon Street, Charlotte, North Carolina 28255, United States of
America.
Long term senior unsecured debt rating: S&P A- (Outlook: Negative),
Moodys Baa1 (Outlook: Negative), Fitch A (Outlook: Stable).
Merrill Lynch Capital Markets AG, Stockerhof, Stockerstrasse 23, 8002
Zurich, Switzerland.
Merrill Lynch International, 2 King Edward St
London, EC1A 1HQ, United Kingdom.

Issuer:
Guarantor:

Lead Manager:
Calculation Agent:

TIMETABLE
Subscription Period:
Reference Pricing Date:

Not Applicable
February 15, 2012

Launch Date:

February 15, 2012

Issue Date:

February 23, 2012

Valuation Date:

February 15, 2013

Settlement Date:

February 22, 2013

SPECIFIC TERMS
Security Codes:
Basket of Underlying
Shares
(the Basket)

Symbol: MLSWB

Valor: 14936009

ISIN: CH0149360098

Initial
Weight
in %

Underlying
Shares and
Relevant
Exchange

Bloomberg
Ticker

ISIN Code

Number of
Shares

Local
Currency

15.32

SYNGENTA AG
NAMEN-AKT.

SYNN

CH0011037469

0.052632

CHF

3.21

BALOISEHOLDING AG

BALN

CH0012410517

0.043684

CHF
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NAMEN-AKT.
2.37

BUCHER
INDUSTRIES AG
NAMEN-AKT.

BUCN

CH0002432174

0.012105

CHF

6.54

KUEHNE +
NAGEL
INTERNATIONAL
AG NAMEN-AK

KNIN

CH0025238863

0.052632

CHF

1.58

PARTNERS
GROUP
HOLDING AG
NAMEN-AKT.

PGHN

CH0024608827

0.009211

CHF

1.22

SCHINDLER
HOLDING AG
NAMEN-AKT.

SCHN

CH0024638212

0.011316

CHF

1.59

SCHINDLER
HOLDING AG
PARTIZIPSCH.

SCHP

CH0024638196

0.014737

CHF

1.99

STRAUMANN
HOLDING AG
NAMEN-AKT.

STMN

CH0012280076

0.012105

CHF

3.18

SULZER AG
NAMEN-AKT.

SUN

CH0038388911

0.026316

CHF

15.59

THE SWATCH
GROUP AG AKT.

UHR

CH0012255151

0.037895

CHF

47.41

NESTLE

NESN

CH0038863350

0.868421

CHF

Settlement Currency: CHF


Issue Price:
CHF 100 per Certificate (representing an issue price of 100 % per Certificate)
Issue Size:
1.900.000 Certificates (equivalent to an aggregate notional amount of CHF
190.000.000)
Ratio:
1 Certificate entitles the holder to one times the Cash Settlement Amount.
One Certificate entitles the holder of the Certificate to receive on the Settlement
Cash Settlement
Date a cash payment in CHF calculated by the Calculation Agent according to the
Amount:
following formula:
CHF 1.00 * If
where:
If is the final value of the Basket, determined on the Valuation Date, calculated in
accordance with the formula below.

If =

( (wi * P ))
n

wi

In respect of each Underlying Share, the Number of Shares as specified


in the table above

Pi T

In respect of each Underlying Share, the official closing price on the


Relevant Exchange of such Underlying Share on the Valuation Date
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For a detailed explanation of the Cash Settlement Amount, including calculation


examples, investors may contact the Lead Manager.

Style:

European

ADDITIONAL PROVISIONS
Secondary Market:

Valuation:

Governing Law:
Place of Jurisdiction:
Listing:
SIX Stop Trading:
Clearing:
Automatic Exercise:
Minimum Trade Size:
Minimum Exercise Number:
Form of Securities:
Business Day Centre(s):
Reg S / 144A:

Under normal market conditions, Merrill Lynch International will


endeavour to provide a daily secondary market for the Securities on a
reasonable efforts basis with a bid-ask spread no larger than 1%.
There can be neither assurance that a secondary market for the
Securities will be provided, nor any assurance as to the price at which
Merrill Lynch International or any other party would offer to purchase
the Securities.
The current value of this COSI Product is determined by method A
(Fair Value). More detailed information about the calculation method
is available at www.six-swiss-exchange.com.
The Securities are governed by Swiss law and the Guarantee will
be governed by the laws of the State of New York
Securities: Courts of Zurich, Switzerland
Guarantee: Courts of New York, USA
Will be applied for on the SIX Swiss Exchange
Valuation Date, 2pm Zurich time
SIX SIS AG, Clearstream Banking S.A., Euroclear Bank S.A.
Applicable
1 Security
1 Security
Certificate
Zrich, London
The Securities are not eligible for sale in the United States or to U.S.
persons at any time.

QUOTES / INFORMATION
RAM ID:

SCER12.CERT

Reuters:

CH014936009=MERL

Swiss Derivatives:

Zurich (Institutional clients only): +41 44 297 77 00


London (Institutional clients only): +44 207 996 1111

Postal Address of Issuer / Lead


Merrill Lynch Capital Markets AG, Stockerhof, Stockerstrasse 23, 8002
Manager:
Zurich, Switzerland
Internet:

www.merrillinvest.ml.com
Unforeseen changes to the terms and conditions of the Securities
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Source of Information:

which were not agreed contractually, but which arise during the
Securities term will be announced on this website.
The term sheet can be obtained free of charge at the above Postal
Address.

INFORMATION ON SWISS TAX SECTION


The following Swiss tax summary is valid at the time of the issuance of the product. It is for general
information only and does not purport to be a comprehensive description of all Swiss tax consequences
that may be relevant to a decision to purchase, own or dispose of the product. Swiss tax laws and the
practice of the Swiss tax authorities may change, possibly with retroactive effect. Prospective Swiss
resident, EU resident and third country resident purchasers of the product should consult their own tax
advisers concerning the tax consequences of purchasing, holding and disposing of the product in the light
of their particular circumstances.
TAX PROVISIONS
Withholding tax and stamp This product is not subject to Swiss withholding tax and Swiss stamp
duties:
issuance tax. Secondary market transactions concerning the product
are not subject to Swiss stamp transfer tax.
Tax
Treatment
for
Swiss This product is classified for Swiss tax purposes as a pure derivative
resident individuals:
financial instrument.
As a result, any gain on the disposal of the product before maturity is
tax-free for Swiss resident individual investors holding the product for
private investment purposes. However, the discount paid upon
redemption is taxable for Swiss resident investors holding the product
at its maturity.

EU Savings Tax retention

SUPERVISION
Merrill Lynch Capital Markets
AG:

Bank of America Corporation:

A capital loss is not tax-deductible.


For Swiss paying agents, the product is not subject to EU Savings Tax
(Telekurs Code 9/14).

Merrill Lynch Capital Markets AG is a Swiss licensed bank, a securities


dealer and a member of the SIX Swiss Exchange and SIX Europe. As
a Swiss bank it is regulated by the Swiss Financial Market Supervisory
Authority FINMA.
Bank of America Corporation is a registered financial holding company
and bank holding company, subject to the supervision of, and regular
inspection by, the U.S. Board of Governors of the Federal Reserve
System.

INFORMATION ABOUT COLLATERALISATION


These Securities (hereinafter COSI Product) are collateralised in accordance with the terms of the SIX
Swiss Exchange Framework Agreement for Collateral Secured Instruments (Framework Agreement).
The Issuer (Collateral Provider) has concluded the Framework Agreement on 25 March 2011 and the
Collateral Provider undertakes to secure the current value of the COSI Product in favour of SIX Swiss
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Exchange at any time.
The rights of the investors in relation to the collateralisation of the COSI Product are determined by the
provisions of the Framework Agreement. The principles of the collateralisation are summarised in a SIX
Swiss Exchange information sheet, which is available at www.six-swiss-exchange.com. The Issuer shall,
upon request, provide the Framework Agreement to the investors free of charge in the original German
version or as an English translation. The Framework Agreement may be obtained at Merrill Lynch Capital
Markets AG, Stockerhof, Stockerstrasse 23, 8002 Zurich, Switzerland, Tel +41 44 297 77 00.
The costs for the service provided by SIX Swiss Exchange with respect to the collateralisation of COSI
Products may be taken into account for the pricing of a COSI Product and may therefore be borne by the
investors.
The payment to the investors may be delayed for factual or legal reasons.
To the extent the calculation of the current value of a COSI Product proves to be incorrect, the
collateralisation of the COSI Product may be insufficient.
Apart from the primary listing of the COSI Product on SIX Swiss Exchange the Issuer may apply for a
listing or admission to trading on one or more secondary exchanges. All aspects and events related to a
listing or admission to trading of the COSI Product on a secondary exchange shall be disregarded under
the Framework Agreement. In particular, events which are related to a listing or admission to trading of the
COSI Product on a secondary exchange, such as the suspension of the market making at a secondary
exchange or the delisting of the COSI Product from a secondary exchange, shall not be deemed a
liquidation event under the Framework Agreement. SIX Swiss Exchange is at its own discretion entitled to
make public the occurrence of a liquidation event and the maturity of the COSI Product pursuant to the
Framework Agreement in the countries where a listing or admission to trading of the COSI Product on a
secondary exchange is maintained as well as to inform the secondary exchanges or any other bodies
about such occurrences.

2. Profit and Loss Perspectives


Market Expectation
Characteristics

Price increase of the Underlying Shares.


- The Securities replicate the price movements of the Underlying Shares
- In terms of market risk, the Securities are comparable to a direct investment
in the Underlying Shares
- The maximum loss that an investor may sustain is a total loss of the invested
amount

3. Significant Risks for Investors


IMPORTANT INFORMATION FOR SWISS INVESTORS:
Product-specific risks
The Securities described herein are derivative financial instruments.
The potential loss of an investment in those Securities is similar to a
direct investment in the Underlying Shares, i.e. could result in a total
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loss of the invested capital. The value of the Basket is calculated
without taking into account any dividends or other amounts which may
be paid in relation to the Underlying Shares contained in the Basket.
The performance of the Certificates is linked to the performance of the
Underlying Shares. The past performance of the Underlying Shares is
not indicative of future performance. Since the Certificates are cash
settled, investors are not in the position to benefit from any increase in
the value of the Basket which may occur after the Valuation Date.
Liquidity of the Certificates in the secondary market may be limited. In
particular, an active trading market for the Certificates is not likely to
develop and the bid offer spread for the Certificates might be wider
than 1%, depending on market conditions.
The Issuer is subject to various potential conflicts of interest in respect
of the Certificates, including in relation to its hedging and marketmaking activities for the Certificates, each of which could have an
adverse effect on the value of the Certificates.
In addition to the product-specific risks highlighted above, investors
are exposed to risk factors specific to the Underlying Shares, and
investors must independently inform themselves about and assess
such risks.
The guarantee of the Securities by the Guarantor will cover only the
difference between the current value of the Securities (as determined
in accordance with the Framework Agreement) and the proceeds
received from liquidation of the collateral following a liquidation event.
Issuer and Guarantor risk

Investors are exposed to the credit risk of the Issuer and Guarantor.
The Securities represent general contractual, unsubordinated
obligations of the Issuer and rank at least pari passu with all other
unsecured, unsubordinated obligations of the Issuer, save for
obligations preferred by operation of law.
The Securities value is dependent not only on the performance of the
Underlying Shares, but, among others, also on the solvency of the
Issuer and the credit rating and solvency of the Guarantor, which may
be negatively affected during the term of the Securities. The Issuer
does not have a credit rating.
Any real or anticipated changes in the Guarantor's credit ratings may
affect the trading value of the Securities. The indicated credit ratings of
the Guarantor are correct as at the Trade Date. The Guarantors credit
ratings reflect the independent opinion of the relevant rating agencies
as to the Guarantors ability to pay its obligations. Credit ratings are
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not a guarantee of credit quality. The Issuer does not have a credit
rating.
FEES AND COMMISSIONS
Fees and Commissions will be payable in relation to this product. Details of those fees and commissions
are available to you upon your request. The borrowing costs of the collateral may be taken into account for
the pricing of a COSI Product and may therefore be borne by the investors.
SELLING RESTRICTIONS
United States - The Securities have not been and will not be registered under the United States Securities
Act of 1933, as amended (the Securities Act), and may not be offered, sold, resold, transferred or
delivered in the United States or to, or for the account or benefit of, U.S. persons at any time.
E.U - No Prospectus (as defined in the EU Prospectus Directive 2003/71/EC (Prospectus Directive))
will be prepared in connection with the Securities. Accordingly, the Securities may not be offered to the
public in any European Economic Area (EEA) member state and any purchaser of the Securities who
subsequently sells any of the Securities in any EEA member state must do so only in accordance with the
requirements of the Prospectus Directive as implemented in that member state.
Switzerland The Securities do not constitute units/shares of a collective investment scheme as per the
Swiss Federal Act on Collective Investment Schemes (CISA) and are neither subject to the authorisation
nor to the supervision by the Swiss Financial Market Supervisory Authority FINMA.
RE-DISTRIBUTION
In connection with the offer and sale of the Securities, the distributor will acquire the Securities from the Lead
Manager at a discount to the issue price or at the issue price. If the distributor acquires the Securities at the
issue price, the Lead Manager will pay to the distributor a distribution fee. Such amounts received by the
distributor may be in addition to the brokerage cost/fee normally applied by the distributor. The purchaser
acknowledges that such distribution fee may be retained by the distributor. Further information is available from
the distributor on request.
STATUS OF THE CERTIFICATES
In Switzerland, these Securities constitute structured products within the meaning of the Swiss Federal Act on
Collective Investment Schemes (the CISA), as amended, and therefore do not qualify as a unit of a collective
investment scheme according to the relevant provisions of CISA and are not subject to registration or
supervision by the Swiss Financial Market Supervisory Authority FINMA.
The Certificates are guaranteed by Bank of America Corporation (a Delaware (U.S.A.) corporation).
COSI - Investor Protection engineered by SIX Group. COSI are structured products with a minimal
counterparty risk. This protection is provided by means of a collateral pledge. Investors thus profit from
increased protection on the invested capital.

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