Document:

<PAGE>

                                                                     Exhibit 4.6

HUMAN RESOURCES               HUMAN RESOURCES DEPARTMENT

                            Paris, December ___, 2004

       CUSTODY ACCOUNT MEMORANDUM - SPECIAL STOCK AWARD PLAN FOR 2004-2005

      Dear Madam, Sir,

      As you know, you have received a conditional grant of SCOR shares pursuant
      to the Special Stock Award Plan for SCOR 2004 - 2005.

      As detailed in the Plan, the ownership of one-half of the shares will be
      transferred to you on January 10, 2005 (the First Effective Ownership
      Transfer Date), the second half of the Shares will be transferred to you
      on November 10, 2005 (the Second Effective Ownership Transfer Date),
      provided that you meet the terms and conditions of the grant of Shares as
      set forth in the Plan.

      In particular, the Plan provides as one of the conditions of the grant,
      that you must open a custody account on or before January 9, 2005 with
      Euro Emetteurs Finances (EEF), with which SCOR has signed an agreement to
      manage the plan, into which custody account your Shares will be deposited.

      To open your custody account you must:

      - initial all the pages and sign page 2 of one copy of the appended
      custody account agreement, which you should first read carefully,

      - attach:

            - a legible photocopy of a valid piece of ID,

            - a photocopy of proof of your current residence no more than three
              months old,

            - an IBAN number for employees with accounts outside of France (you
              must complete very carefully this item of the custody agreement
              with the help of your bank),

      - return the above-mentioned documents, PRIOR TO DECEMBER ___, 2004, to
      your employer's Human Resources department.

      Provided that you meet all of the terms and conditions of the Plan (in
      particular the condition relating to the opening of your custody account),
      the shares granted to you under the Plan will be transferred on the
      Effective Ownership Transfer Dates to your custody account. EEF will then
      send you an account statement confirming the registration of these shares.

      You also have the opportunity to elect to receive AMERICAN DEPOSITARY
      SHARES (ADS) corresponding to the shares you have been granted
      conditionally. Should you elect for a delivery of the corresponding ADSs,
      your shares will be deposited with the depositary under the ADS facility
      and you will receive the corresponding ADSs. Any ADSs will be delivered to
      you in global form through the Depositary Trust Company and registered in
      the name of a brokerage account you may designate.

      Nonetheless, your election for a delivery of ADSs corresponding to the
      granted shares does not exempt you from timely opening your custody
      account with EEF.

<PAGE>

To elect for a delivery of ADS, you must:

      -     complete very carefully, initial and sign the "Certificate" attached
            hereto,

      -     return such duly initialled and signed "Certificate", PRIOR TO
            DECEMBER ___, 2004, to your employer's Human Resources department.

If you fail to timely return your "Certificate", on or before December ___,
2004, your election for receiving the ADSs corresponding to the shares that have
been granted to you will be void.

We ask you to please note the following:

- If you fail to open your custody account in accordance with the instructions
provided in this custody account memorandum, on or before January 9, 2005, you
shall forfeit all rights to receive shares under the Plan.

- SCOR will pay the custody fees for this account and will also pay trading fees
for up to two sales transactions a year (1).

-If you terminate your employment with the SCOR group, you will no longer be
permitted to utilize your custody account with EEF and you undertake, by signing
the custody account agreement, to immediately transfer your SCOR shares to any
other account that you may designate at that time. SCOR will not be responsible
for any costs related to the new account or any fees related to any trades that
occur after your employment with the SCOR group terminates.

- Sell orders must be made using the appended form and sent, BY POST OR FAX to:

EURO EMETTEURS FINANCE
Service Accueil Actionnaires
48, boulevard des Batignolles
75017 Paris
FRANCE
Fax: +33 (0)1 55 30 59 20

If you wish to have EEF sell some or all of the shares that will be transferred
to you on January 10, 2005, you must send your sell order so that EEF receives
it from January 5, 2005 to January 9, 2005 (noon - Paris time). If you do so,
your sell order will be implemented by EEF on January 10, 2005 at 9 am (Paris
Time), based on the stock market opening price.

Any sell orders that you send on or after January 10, 2005 will be processed by
EEF, pursuant to your instructions, within 48 hours after receipt by EEF.

For more information, you may consult the FAQ section on the myscor intranet.

For information concerning your custody account or how to place an order, you
may contact EEF (from 9 am to 6 pm - Paris Time):

Telephone number for beneficiaries outside of France: +33 1 55 30 59 18

You also may e-mail any questions you may have to eef_accueil_actionnaire@eef.fr

Yours Sincerely,

Human Resources Department.

---------------------
(1) These fees, which include a minimum charge of (euro) 14, are 0.75% of
transactions up to (euro)10,000 and 0.56% above (euro)10,000.

<PAGE>

                   Model letter - instructions of the employee

                                   CERTIFICATE

I hereby deposit the ordinary shares described in (2) below with the Bank of New
York ("the Depositary") in order that I may receive American Depositary Shares
("ADSs") corresponding to such ordinary shares. I hereby direct that the
Depositary execute and deliver such ADSs in the form and to the person or
persons described below. I hereby certify and confirm that the information set
forth below is true and correct.

(1)   Name :

(2)   Number of ordinary shares to deposit :

(3)   Deliver the ADSs in global form delivered through the Depositary Trust
      Company and registered in the name of the following brokerage account :

      a.    Name of broker      :

      b.    Address of broker   :

      c.    Contact             :

      d.    DTC#                :

      e.    Account Number      :

      f.    Account name        :

Signature : ___________________

Date: _________________________Bank of America - Form of Note

THIS
NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER
REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A
DEPOSITORY.  THIS NOTE IS NOT
EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE
DEPOSITORY OR ITS NOMINEE, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE
INDENTURE, AND NO TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER OF THIS NOTE AS
A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE
DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY) MAY BE
REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

Unless this Note is presented by an authorized
representative of The Depository Trust Company, a New York corporation (55
Water Street, New York, New York) ("DTC"), to the Corporation (as defined
below) or its agent for registration of transfer, exchange or payment, and this
Note is registered in the name of Cede & Co. or such other name as
requested by an authorized representative of DTC, and unless any payment is
made to Cede & Co.., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner hereof,
Cede & Co., has an interest herein.

THIS NOTE IS NOT A SAVINGS ACCOUNT OR A DEPOSIT, IS
NOT AN OBLIGATION OF OR GUARANTEED BY ANY BANKING OR NONBANKING AFFILIATE OF
BANK OF AMERICA CORPORATION, AND IS NOT INSURED BY THE FEDERAL DEPOSIT
INSURANCE CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY.  

REGISTERED                                                                                     $5,000,000

NUMBER  __I-_____                                                                        CUSIP
06050 MEG8

BANK OF AMERICA CORPORATION

MEDIUM-TERM SENIOR
NOTE, SERIES K

(Indexed Note)

 

/    /       SEE THE ATTACHED
PRINCIPAL REPAYMENT

              AMOUNT RIDER for a description of the

             
PRINCIPAL REPAYMENT AMOUNT and its method of
calculation.

/ X /      SEE THE ATTACHED SUPPLEMENTAL REDEMPTION AMOUNT RIDER for
a description of the

              SUPPLEMENTAL
REDEMPTION AMOUNT and its method of calculation

ORIGINAL ISSUE DATE:   December 27, 2004

MATURITY
DATE:  June 28, 2010

CALCULATION
AGENT:  Banc of America Securities LLC

ADDITIONAL
TERMS:  See Supplemental Redemption
Amount Rider

MINIMUM
DENOMINATIONS:  $1,000 and whole
multiples of $1,000.                                                   

        BANK OF
AMERICA CORPORATION, a Delaware corporation (the "Corporation," which term
includes any successor corporation under the Indenture referred to on the
reverse hereof), for value received, hereby promises to pay on the Maturity
Date to CEDE & CO., as nominee for The Depository Trust Company, or its
registered assigns, (i) the principal amount of  FIVE MILLION AND 00/100 DOLLARS ($5,000,000.00) and (ii) that
supplemental redemption amount (the "Supplemental Redemption Amount")
calculated according to the terms of the attached Supplemental Redemption
Amount Rider.  No interest is payable on
this Note.

        Any principal
or Supplemental Redemption Amount not punctually paid or duly provided for
shall be payable as provided in the Indenture. 
As used in this Note, "Business Day" means any weekday that is not a
legal holiday in New York, New York or Charlotte, North Carolina, is not a date
on which banking institutions in those cities are authorized or required by law
or regulation to be closed, and is not a
day on which the Tokyo Stock Exchange (the "TSE"), The New York Stock Exchange, the Nasdaq Stock Market and the American
Stock Exchange are open for trading.

 

         The principal
and Supplemental Redemption Amount on this Note are payable in immediately
available funds in such coin or currency of the United States of America as at
the time of payment is legal tender for payment of public and private debts at
the office or agency of the Corporation designated as provided in the
Indenture; provided, however, that the principal or Supplemental
Redemption Amount may be paid, at the option of the Corporation, by check
mailed to the person entitled thereto at his address last appearing on the
registry books of the Corporation relating to the Notes.  Notwithstanding the preceding sentence,
payments of the principal and Supplemental Redemption Amount payable on the
Maturity Date will be made by wire transfer of immediately available funds to a
designated account maintained in the United States upon (i) receipt of written
notice by the Issuing and Paying Agent (as described on the reverse hereof)
from the registered holder of this Note not less than one Business Day prior to
the due date of such principal and (ii) presentation of this Note to The Bank
of New York, as Issuing and Paying Agent, 101 Barclay Street, New York, New
York 10286 (the "Corporate Trust Office").

        For both this
Note and Notes issued in certificated form, the payment of principal of and any
other amounts due on or after the Maturity Date will be made only upon the
presentation and surrender of such Note at the office of the Trustee or
successor thereof, and with respect to this Note, in accordance with the
procedures of DTC.

        References
herein to "U.S. dollars," "U.S.$," or "$" are to the coin or currency of the
United States at the time of payment is legal tender for the payment of public
and private debts.

        Reference is
hereby made to the further provisions of this Note set forth on the reverse
hereof and on the attached Supplemental Redemption Amount Rider, which shall
have the same effect as though fully set forth at this place.

        Unless the certificate of
authentication hereon has been executed by the Trustee or an authenticating
agent on behalf of the Trustee by manual signature, this Note shall not be
entitled to any benefit under the Indenture or be valid or obligatory for any
purpose.

 2

         IN WITNESS
WHEREOF, the Corporation has caused this Note to be duly executed, by manual or
facsimile signature, under its corporate seal or a facsimile thereof.

                                                                                        BANK OF AMERICA CORPORATION

                                                                                       
By:____________________________________

[SEAL]                                                                            Title:
Senior Vice President

ATTEST:

By:___________________________

Title:  Assistant
Secretary

3

Certificate
of Authentication

              This is one of
the Securities of the series designated therein referred to in the
within-mentioned Indenture.

Dated: December 27, 2004

 

                                                                                                THE BANK OF NEW YORK,

                                                                                                 as Trustee

                                                                                                By:___________________________

                                                                                                             Authorized
Signatory

 4

[Reverse
of Note]

BANK OF AMERICA CORPORATION

MEDIUM-TERM SENIOR
NOTE, SERIES K

(Indexed
Note)

          SECTION
1.  General.  This Note is one of a duly authorized series
of Securities of the Corporation unlimited in aggregate principal amount
(herein called the "Notes") issued and to be issued under an Indenture dated as
of January 1, 1995 (herein called the "Indenture"), between the Corporation
(successor in interest to NationsBank Corporation) and The Bank of New York, as
Trustee (successor in interest to U.S. Bank Trust National Association,
successor trustee to BankAmerica National Trust Company, herein called the
"Trustee," which term includes any successor trustee under the Indenture), as
supplemented by a First Supplemental Indenture dated as of September 18, 1998,
a Second Supplemental Indenture dated as of May 7, 2001, and a Third
Supplemental Indenture dated as of July 28, 2004, to which Indenture and all indentures
supplemental thereto reference is hereby made for a statement of the respective
rights thereunder of the Corporation, the Trustee, and the holders of the
Notes, and the terms upon which the Notes are, and are to be, authenticated and
delivered.  This Note is also one of the
Notes designated as the Corporation's Senior Medium-Term Notes, Series K,
initially limited in aggregate principal amount to $10,000,000,000.    The Trustee initially shall act as
Security Registrar, Transfer Agent, and Issuing and Paying Agent in connection
with the Notes.  The Notes may bear
different dates, mature at different times, bear interest at different rates
and vary in such other ways as are provided in the Indenture.

          SECTION
2.  No Sinking Fund.  This Note is not subject to any sinking
fund.

          SECTION
3.  Redemption.  This Note is not redeemable prior to the
Maturity Date.

          SECTION
5.  Defeasance.  The provisions of Article Fourteen of the
Indenture do not apply to Securities of this Series.

          SECTION
6.  Events of Default.  If an Event of Default (defined in the
Indenture as (a) the Corporation's failure to pay the principal of (or premium,
if any, on) the Notes when due; (b) the Corporation's failure to pay interest
on the Notes within 30 calendar days after the same becomes due; (c) the
Corporation's breach of its other covenants contained in this Note or in the
Indenture, which breach is not cured within 90 calendar days after written
notice by the Trustee or the holders of at least 25% in outstanding principal
amount of all Securities issued under the Indenture and affected thereby; and
(d) certain events involving the bankruptcy, insolvency or liquidation of the
Corporation) shall occur with respect to the Notes, the principal of all the
Notes may be declared due and payable in the manner and with the effect
provided in the Indenture.

          SECTION
7.  Modifications and Waivers. The Indenture permits, with certain
exceptions as therein provided, the amendment of the Indenture and the
modification of the rights and obligations of the Corporation and the rights of
the holders of the Notes under the Indenture at any time by the Corporation with
the consent of the holders of not less than 66 2/3% in aggregate principal
amount of the Notes then outstanding and all other Securities then outstanding
under 

 

5

the Indenture and affected by such amendment and modification. 
The Indenture also contains provisions permitting the holders of a majority in
aggregate principal amount of the Notes then outstanding and all other
Securities then outstanding under the Indenture and affected thereby, on behalf
of the holders of all such Securities, to waive compliance by the Corporation
with certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences.  Any
such consent or waiver by the holder of this Note shall be conclusive and
binding upon such holder and upon all future holders of this Note and of any
Note issued upon the registration of transfer hereof or in exchange herefor or
in lieu hereof whether or not notation of such consent or waiver is made upon
this Note.

         No recourse
shall be had for the payment of the principal of, premium on (if any),
interest, or other amounts payable on this Note, or for any claim based hereon,
or otherwise in respect hereof, or based on or in respect of the Indenture or
any indenture supplemental thereto, against any incorporator, stockholder,
officer, or director, as such, past, present, or future, of the Corporation or
any predecessor or successor corporation, whether by virtue of any
constitution, statute or rule of law, or by the enforcement of any assessment
or penalty or otherwise, all such liability being, by the acceptance hereof and
as part of the consideration for issue hereof, expressly waived and released.

         SECTION
8.  Obligations Unconditional.  No reference herein to the Indenture and no
provision of this Note or of the Indenture shall alter or impair the obligation
of the Corporation, which is absolute and unconditional, to pay the principal
of, premium (if any), interest, and other amounts payable on this Note at the
times, place and rate, and in the coin or currency, herein prescribed.

        SECTION
9.  Authorized Denominations.  The Notes are issuable only as registered
Notes without coupons, and unless otherwise set forth above, only in
denominations of $1,000 and whole multiples of $1,000.  As provided in the Indenture, and subject to
certain limitations therein set forth, Notes are exchangeable for a like
aggregate principal amount of Notes of different authorized denominations, as
requested by the holder surrendering the same.

        SECTION
10.  Registration of Transfer.  As provided in the Indenture and subject to
certain limitations as therein set forth, the transfer of this Note is
registrable in the register maintained by the Registrar, upon surrender of this
Note for registration of transfer at the office or agency of the Corporation
designated by it pursuant to the Indenture, duly endorsed by, or accompanied by
a written instrument of transfer in form satisfactory to the Corporation and
the Trustee or the Security Registrar requiring such written instrument of
transfer duly executed by, the registered holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Notes of this series, of
authorized denominations and for the same aggregate principal amount, will be
issued to the designated transferee or transferees.

         This Note is
being issued by means of a book-entry system with no physical distribution of
certificates to be made except as provided in the Indenture.  The book-entry system maintained by The
Depository Trust Company ("DTC") will evidence ownership of the Notes, with
transfers of ownership effected on the records of DTC and its participants
pursuant to rules and procedures established by DTC and its participants.  The Corporation will recognize Cede &
Co., as nominee of DTC, while the registered holder of the Notes, as the owner
of the Notes for   

6

all purposes, including payment of principal and the Supplemental
Redemption Amount, notices and voting. Transfer of principal and the
Supplemental Redemption Amount to participants of DTC will be the
responsibility of DTC, and transfer of principal and the Supplemental
Redemption Amount payable to beneficial owners of the Notes by participants of
DTC will be the responsibility of such participants and other nominees of such
beneficial owners.  So long as the
book-entry system is in effect, the selection of any Notes to be redeemed will
be determined by DTC pursuant to rules and procedures established by DTC and
its participants.  The Corporation will
not be responsible or liable for such transfers or payments or for maintaining,
supervising or reviewing the records maintained by DTC, its participants, or
persons acting through such participants.

            This Note
may be exchanged in whole, but not in part, for security-printed certificated
Notes, only if (i) DTC notifies the Corporation or the Trustee that it is
unwilling or unable to continue to act as depository for this Note in global
form or if at any time DTC ceases to be a clearing agency registered under the
Securities Exchange Act of 1934, as amended, and in either such case, a
successor depository is not appointed by the Corporation within 60 calendar
days, or (ii) the Corporation executes and delivers to the Trustee a written
notification that this Note in global form shall be so exchangeable, or (iii)
an Event of Default occurs and is continuing with respect to this Note in
global form.  In any such instance, an
owner of a beneficial interest in this Note will be entitled to physical
delivery in certificated form of Notes equal in principal amount to such
beneficial interest and to have such Notes registered in its name.  Unless otherwise set forth above, Notes so
issued in certificated form will be issued in authorized denominations only and
will be issued in registered form only, without coupons.

           No service
charge shall be made for any such registration of transfer or exchange, but the
Corporation may require payment of a sum sufficient to cover any tax,
assessment, or other governmental charge, including, without limitation, any
withholding tax, payable in connection therewith.

          Prior to due
presentment of this Note for registration of transfer, the Corporation, the
Trustee, the Issuing and Paying Agent and any agent of the Corporation, the
Trustee or any Issuing and Paying Agent may treat the person in whose name this
Note is registered as the owner hereof for all purposes.

         SECTION
11.  Defined Terms.  All terms used in this Note which are not
defined herein but are defined in the Indenture shall have the meanings
assigned to them in the Indenture.

         SECTION
12.  Governing Law. THIS NOTE
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK, WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICTS OF LAWS.

7

  

ABBREVIATIONS

             The following
abbreviations, when used in the inscription on the face of the within Note,
shall be construed as though they were written out in full according to
applicable laws or regulations:

                          TEN COM--   as tenants in common

                          TEN ENT--     as tenants by the entireties

                          JT TEN--         as joint tenants with right of
survivorship and not as tenants in common

                          UNIF GIFT MIN
ACT--...........................as Custodian for............................

                                                                        (Cust)                                          (Minor)

                                                 Under Uniform Gifts to Minors Act

                                                 .......................................................

                                                                    (State)

Additional
abbreviations may also be used though not in the above list.

_____________________________

ASSIGNMENT

FOR VALUE
RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto

[PLEASE PRINT OR
TYPEWRITE NAME AND ADDRESS

INCLUDING
ZIP CODE OF ASSIGNEE]

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

Please Insert Social Security or Other 

           Identifying
Number of Assignee: ____________________________

the within Note and all rights
thereunder, hereby irrevocably constituting and appointing
__________________________________ Attorney to transfer said Note on the books
of the Corporation, with full power of substitution in the premises.

Dated:_________________________            _________________________________________

NOTICE: The signature to this assignment must correspond
with the name as it appears upon the face of the within Note in every
particular, without alteration or enlargement or any change whatever and must
be guaranteed.

8

 

BANK OF AMERICA CORPORATION

Medium-Term Senior Note, Series K

SUPPLEMENTAL REDEMPTION AMOUNT RIDER

General

         
This Note is part of a series of
medium-term notes entitled "Medium-Term Notes, Series K" issued under the
Indenture, as described in the Prospectus dated April 14, 2004 and Prospectus
Supplement dated April 15, 2004 and is designated as the Bank of America
Corporation Return Linked Notes due June 28, 2010 Linked to the Nikkei 225
Index.  Certain capitalized terms used
herein have the meanings ascribed to them in the Prospectus and the Prospectus
Supplement.

Payment at Maturity;
Supplemental Redemption Amount

           At
maturity, the holder of the Note will receive the principal amount of the
Note.  Depending on the performance of
the Nikkei 225 Index (the "Nikkei 225 Index") during the term of the Note, the
holder of the Note may receive a Supplemental Redemption Amount.  The Supplemental Redemption Amount, if any, will
be determined by the Calculation Agent in the manner described below.

          This
Note was priced on December 21, 2004, or the "Pricing Date."  On the Pricing Date, the Calculation Agent
determined the closing level of the Index to be 11,125.92, which is the "Starting Level". 
 

         The
"Valuation Date" will be June 22, 2010. 
However, if a Market Disruption Event occurs on that day, then
the Valuation Date may be another date, as the Calculation Agent determines in
the manner described under "Market Disruption."  On the Valuation Date, the Calculation Agent will determine the
closing level of the Nikkei 225 Index. 
The "Ending Level" will be the closing level of the Nikkei 225 Index on
the Valuation Date.  The "closing level"
of the Nikkei 225 Index on any Business Day means the level of the Nikkei 225
Index at the regular official weekday close of any and all relevant exchanges
and/or markets.

         The
Calculation Agent will determine the Supplemental Redemption Amount, if any, by
multiplying the Index Return, as defined below, by the principal amount of this
Note held at maturity.

         The
"Index Return" will equal:

Ending Level -
Starting Level

Starting Level

         The
result will be rounded to the nearest ten-thousandth of a decimal place and
then expressed as a percentage.

9

        The
Supplemental Redemption Amount will be calculated after the close of the market
on the Valulation Date.  Changes in the
Nikkei 225 Index between the Valuation Date and the maturity date will not
affect the Supplemental Redemption Amount payable to the holder of this Note at
maturity.

        Because
this Note is principal protected, if the calculation of the Supplemental Redemption
Amount were to result in a negative number because the Nikkei 225 Index has
declined, the Supplemental Redemption Amount will be deemed to be zero.  In such a case, the holder of this Note will
receive only the principal amount at maturity.

Event of
Default

            Upon the occurrence of an Event of
Default (as defined in the Indenture), the holder of this Note only will be
entitled to receive the principal amount of the Note, and will not be entitled
to payment of any Supplemental Redemption Amount.

Market
Disruption

            Each of the
following will be a "Market Disruption Event" if, in the sole opinion of the
Calculation Agent, that event materially affects the Nikkei 225 Index:  

(a)        the suspension, material limitation, or
absence of the trading of a material number of stocks included in the Nikkei
225 Index;

(b)        the suspension or material limitation of
the trading of stocks on one or more stock exchanges on which stocks included
in the Nikkei 225 Index are quoted; or

(c)        the suspension or material limitation of
the trading of (i) options or futures relating to the Nikkei 225 Index on any
options or futures exchanges or (ii) options or futures generally.

            For the purpose of this definition
of Market Disruption Event:  

(a)        a limitation on the number of hours or
days of trading will not be a Market Disruption Event if it results from an
announced change in the regular business hours of any exchange;

(b)        a limitation on trading imposed by
reason of the movements in price exceeding the levels permitted by any relevant
exchange will be a Market Disruption Event;

(c)        a decision to permanently discontinue
trading in the relevant futures or options contracts will not constitute a
Market Disruption Event; and

(d)        an absence of trading on a securities
exchange or quotation system will not include any time when that exchange or
quotation system is closed for trading under ordinary circumstances.

10

          If
a Market Disruption Event occurs or is continuing on a day that would otherwise
be the Valuation Date, then the Calculation Agent instead will use the closing
level of the Nikkei 225 Index on the first Business Day after that day on which
no Market Disruption Event occurs or is continuing.  In no event, however, will the Valuation Date be postponed by
more than five Business Days.  If the
Valuation Date is postponed to the fifth Business Day after June 22, 2010, but
a Market Disruption Event occurs or is continuing on that day, that day
nevertheless will be the Valuation Date, and the Calculation Agent will make a
good faith estimate of the closing level of the Nikkei 225 Index based upon its
assessment of the level of the Nikkei 225 Index at that time.  If the Valuation Date is postponed due to a
Market Disruption Event, the Maturity Date for this Note also will be postponed
by the same number of Business Days.

Discontinuance
of the Nikkei 225 Index; Alteration of Method of Calculation

          If Nihon Keizai Shimbun, Inc.
("NKS") discontinues publication of the Nikkei 225 Index and NKS or another
entity publishes a successor or substitute index that the Calculation Agent
determines, in its sole discretion, is comparable to the discontinued Index
(the new index being referred to as a "Successor Index"), then the relevant
closing levels shall be determined by reference to the Successor Index at the
close of trading on the TSE or the relevant exchange or market for the
Successor Index.

            If the
Calculation Agent selects a Successor Index, the Calculation Agent immediately
shall notify the Corporation and the Trustee, and the Trustee will provide
written notice of a change to the holder of this Note within three Business
Days of selection.

           If NKS discontinues publication of
the Nikkei 225 Index, and the Calculation Agent determines that no Successor
Index is available, then the Calculation Agent will notify the Corporation and
the Trustee and shall calculate the appropriate closing levels. These
calculations by the Calculation Agent will be in accordance with the formula
for and method of calculating the Nikkei 225 Index last in effect prior to that
discontinuance.  If a Successor Index is
selected or the Calculation Agent calculates a level as a substitute for the
Nikkei 225 Index, that Successor Index or level will be substituted for the Nikkei
225 Index for all purposes.

          If
at any time the method of calculating the Nikkei 225 Index or a Successor
Index, or the level of that index, is changed in a material respect, or if the
Nikkei 225 Index or a Successor Index in any other way is modified so that it
does not, in the opinion of the Calculation Agent, fairly represent the level
of the Nikkei 225 Index or the Successor Index had those changes or
modifications not been made, then, from and after that time, the Calculation
Agent will notify the Corporation and the Trustee.  The Calculation Agent will make those calculations and
adjustments as, in the good faith judgment of the Calculation Agent, may be
necessary in order to arrive at a level of a stock index comparable to the
Nikkei 225 Index or the Successor Index, as the case may be, as if those
changes or modifications had not been made, and calculate the closing levels
with reference to the Nikkei 225 Index or the Successor Index, as
adjusted.  Accordingly, if the method of
calculating the Nikkei 225 Index or a Successor Index is modified so that the
level of such index is a fraction of what it would have been if it had not been
modified (e.g., due to a split in the index), then the Calculation Agent shall
adjust the index in order to  

11

arrive at a level of the Nikkei 225 Index or the Successor Index as if it had
not been modified (e.g., as if the split had not occurred).

Role of the
Calculation Agent

         The Calculation
Agent has the sole discretion to make all determinations regarding this Note,
including determinations regarding the Index Return, the Supplemental
Redemption Amount, Market Disruption Events, Successor Indices, and Business
Days.  Absent manifest error, all
determinations of the Calculation Agent will be final and binding on the holder
of this Note and the Corporation, without any liability on the part of the
Calculation Agent.

          The
Corporation has initially appointed its affiliate, Banc of America Securities
LLC, as the Calculation Agent, but the Corporation may change the Calculation
Agent at any time without notifying the holder of this Note.   

  12

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