Important Information Regarding Your Merrill Lynch Trust Relationships

M209494312 M386518312

MARCH 2012 IMPORTANT INFORMATION REGARDING YOUR MERRILL LYNCH TRUST RELATIONSHIPS

This document contains required legal and regulatory notices that you should review and retain for future reference.

TABLE OF CONTENTS U.S. Consumer Privacy Notice...... 1 FINRATM BrokerCheck®...... 4 Mutual Fund Disclosure Pamphlet Available...... 4 Merrill Lynch Balance Sheet Available Online...... 5 Notice Regarding Payment for Order Flow and Order Routing Information...... 5 Householding of Mailings from Merrill Lynch...... 5 Statement Values for Certain Specialty Assets...... 5 Merrill Lynch Disclosure Update...... 6 Let Us Know if Your Circumstances Have Changed...... 6 SIPC Information...... 6 Limits on Foreign Ownership of Certain Communications, Maritime and Aviation Issues...... 6

U.S. Consumer Privacy Notice Rev. 01/2012

WHAT DOES BANK OF AMERICA DO WITH YOUR FACTS PERSONAL INFORMATION?

Financial companies choose how they share your personal information. Under Federal law, that means Why? personally identifiable information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.

The types of personal information we collect and share depend on the product or service you have with us. This information can include: What? • Social Security number and employment information • account balances, transaction history and credit information • investment experience All financial companies need to share customers’ personal information to run their everyday business. How? In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Bank of America chooses to share; and whether you can limit this sharing.

Does Can you limit Reasons we can share your personal information Bank of America this sharing? share? For our everyday business purposes — such as to process your Yes No transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus For our marketing purposes — with service providers we use to Yes No offer our products and services to you (please see below to limit the ways we contact you) Continued on page 2 Does Can you limit Reasons we can share your personal information Bank of America this sharing? share? For joint marketing with other financial companies Yes No For our affiliates’ everyday business purposes — Yes No Information about your transactions and experiences For our affiliates’ everyday business purposes — Yes Yes Information about your creditworthiness For nonaffiliates to market to you — for all credit card accounts Yes Yes For nonaffiliates to market to you — for accounts and services Yes Yes endorsed by another organization (e.g. debit card co-branded with a baseball team) “Sponsored Accounts” For nonaffiliates to market to you — for accounts other No We don’t than credit card accounts and Sponsored Accounts, such as insurance, share investments, deposit and lending

• Call 1.888.341.5000 — our menu will prompt you through your choices • Visit us online: bankofamerica.com/privacy • Talk to a customer representative at a banking center or to your assigned account representative To limit our sharing Please note: If you are a new customer, we can begin sharing your information 45 days from the date we sent this notice. When you are no longer our customer, we continue to share your information as described in this notice. However, you can contact us at any time to limit our sharing. • Call 1.888.341.5000 — our menu will prompt you through your choices • Visit us online: bankofamerica.com/privacy • Talk to a customer representative at a banking center or to your assigned account representative To limit direct marketing Please note: contact Direct marketing is email, postal mail and telephone marketing. Your telephone and postal mail opt-out choices will last for five years, subject to applicable law. Even if you limit direct marketing, we may still contact you to service your account or as otherwise allowed by law. Questions? Call 1.888.341.5000 or go to bankofamerica.com/privacy

Who we are Bank of America U.S. legal entities that utilize the names: Bank of America, Who is providing Banc of America, U.S. Trust, LandSafe or Merrill Lynch, as well as the entities listed in this notice? the Bank of America U.S. legal entities section.

What we do How does To protect your personal information from unauthorized access and use, we use Bank of America security measures that comply with federal law. These measures include computer protect my personal safeguards and secured files and buildings. For more information visit information? bankofamerica.com/security.

Continued on page 3 2

We collect your personal information, for example, when you: How does • open an account or perform transactions Bank of America • apply for a loan or use your credit or debit card collect my personal • seek advice about your investments information? We also collect your personal information from others, such as credit bureaus, affiliates, or other companies. Federal law gives you the right to limit some but not all sharing related to: • affiliates’ everyday business purposes — information about your creditworthiness Why can’t I limit • affiliates from using your information to market to you all sharing? • nonaffiliates to market to you State laws and individual Bank of America companies may give you more rights to limit sharing. See Other important information section for your rights under state law. Your choices will apply to you alone unless you tell us otherwise. However, your choice What happens when to limit sharing with nonaffiliates to market to you for credit card accounts or Sponsored I limit sharing for an Accounts will apply to all joint account holders. If you have more than one credit card account I hold jointly account or Sponsored Account and you choose to opt out, you will need to do so for with someone else? each account.

Definitions Companies related by common ownership or control. They can be financial and nonfinancial companies. Affiliates • Our affiliates include companies with a Bank of America; Banc of America; U.S. Trust; LandSafe or Merrill Lynch name, financial companies such as Fleet Credit Card Ser- vices L.P. and General Fidelity Life Insurance Company. Companies not related by common ownership or control. They can be financial and nonfinancial companies. Nonaffiliates • Nonaffiliates we share with can include financial services companies such as insurance agencies or mortgage brokers, nonfinancial companies such as retailers, travel companies and membership groups, other companies such as nonprofit groups. A formal agreement between nonaffiliated financial companies that together Joint marketing market financial products or services to you. • Our joint marketing partners include financial service companies.

Other important information Do Not Call Policy. This notice is the Bank of America Do Not Call Policy under the Telephone Consumer Protection Act. We do not solicit via telephone numbers listed on the state or federal Do Not Call lists, unless the law allows. Bank of America associates receive training on how to document and process telephone marketing choices. Consumers who ask not to receive telephone solicitations from Bank of America will be placed on the Bank of America Do Not Call list and will not be called in any future campaigns, including those of Bank of America affiliates. If you communicate with us by telephone, we may monitor or record the call.

For Nevada residents only. We are providing you this notice under state law. You may be placed on our internal Do Not Call List by following the directions in the To limit direct marketing contact section. Nevada law requires we provide you with the following contact information: Bureau of Consumer Protection, Office of the Nevada Attorney General, 555 E. Washington St., Suite 3900, Las Vegas, NV 89101; Phone number- 702.486.3132; e-mail: [email protected]. Bank of America, P.O. Box 25118, FL1-300-02-07, Tampa, FL 33633-0900; Phone number- 1.888.341.5000; e-mail: Click on “Contact Us” at bankofamerica.com/privacy.

Continued on page 4 3 Vermont: Under Vermont law, we will not share information we collect about Vermont residents with companies outside of our corporate family, unless the law allows. For example, we may share information with your consent, to service your accounts or under joint marketing agreements with other financial institutions with which we have joint marketing agreements. We will not share information about your creditworthiness within our corporate family except with your consent, but we may share information about our transactions or experiences with you within our corporate family without your consent.

California: Under California law, we will not share information we collect about you with companies outside of Bank of America, unless the law allows. For example, we may share information with your consent, to service your accounts, or to provide rewards or benefits you are entitled to. We will limit sharing among our companies to the extent required by California law.

For Insurance Customers in AZ, CA, CT, GA, IL, ME, MA, MN, MT, NV, NJ, NC, OH, OR and VA only. The term “Information” in this part means customer information obtained in an insurance transaction. We may give your Information to state insurance officials, law enforcement, group policy holders about claims experience or auditors as the law allows or requires. We may give your Information to insurance support companies that may keep it or give it to others. We may share medical Information so we can learn if you qualify for coverage, process claims or prevent fraud or if you say we can. To see your Information, write Insurance Services, TX2-977-01-39, 5401 North Beach Street, Fort Worth, TX 76137, Attn: Data Request. You must state your full name, address, the insurance company, policy number (if relevant) and the Information you want. We will tell you what Information we have. You may see and copy the Information (unless privileged) at our office or ask that we mail you a copy for a fee. If you think any Information is wrong, you must write us. We will let you know what actions we take. If you do not agree with our actions, you may send us a statement.

For MA Insurance Customers only. You may ask in writing the specific reasons for an adverse underwriting decision. An adverse underwriting decision is where we decline your application for insurance, offer to insure you at a higher than standard rate or terminate your coverage.

Bank of America U.S. legal entities Bank of America U.S. legal entities that utilize the names: Bank of America, Banc of America, U.S. Trust, LandSafe or Merrill Lynch, as well as the following entities: BACAP Alternative Advisors, Inc., BofA Advisors, LLC, BofA Distributors, Inc., Countrywide Home Loans, Inc., Fleet Credit Card Services, L.P., Financial Data Services Inc., General Fidelity Life Insurance Company, HomeFocus Tax Services, LLC, KBA Mortgage, LLC, Managed Account Advisors LLC, NationsCredit Financial Services Corporation, The Princeton Retirement Group, Inc., SA Mortgage Services, LLC

FINRATM BrokerCheck® Mutual Fund Disclosure The Financial Industry Regulatory Authority, Inc.’s Pamphlet Available (FINRATM) BrokerCheck® allows the public to obtain Mutual Fund Investing at Merrill Lynch provides information current regulatory information about FINRA member firms about the fees and expenses related to mutual funds and financial advisors. You can get more information, available at Merrill Lynch, as well as the compensation that including an investor brochure that includes information Merrill Lynch earns with respect to those funds. To receive describing FINRA BrokerCheck, by calling its BrokerCheck a copy of this client disclosure pamphlet, please visit hotline at (800) 289-9999 or by visiting its Web site at www.ml.com/funds. www.finra.org/Investors/ToolsCalculators/ You may also call (800) MERRILL (637-7455) to request BrokerCheck. that a copy of this document be mailed to you.

4 Merrill Lynch Balance Sheet Householding of Mailings Available Online from Merrill Lynch The most recent consolidated balance sheet of Merrill Lynch, If you have linked your Merrill Lynch accounts for mailing Pierce, Fenner & Smith Incorporated (“Merrill Lynch”) purposes with the Statement Link Service, Merrill Lynch will and its subsidiaries is available for viewing online at: reference your established link relationship to consolidate http://totalmerrill.com/mlpfs. You may also request other mailings we send you (such as trade confirms, service a free copy of the balance sheet by calling (800) MERRILL notices, and other important notices), provided all accounts (637-7455), and asking to speak to a service representative. in the link relationship have the same mailing address. As a registered broker-dealer and Futures Commission This service enhancement will help reduce the amount of Merchant, Merrill Lynch is subject to the net capital mailings you receive from us. Requirements of Securities Exchange Commission You can further reduce the amount of mailings we (SEC) Rule 15c3-1, and Commodity Futures Trading send you by electing to receive your account records Commission (CFTC) Regulation 1.17. Merrill Lynch has electronically. To learn more about our free electronic elected to compute the minimum capital requirement in delivery service, please visit www.mymerrill.com. accordance with the “Alternative Net Capital Requirement” For purposes of this notice, “electronic transfers” include Visa as permitted by SEC Rule 15c3-1. At December 31, 2011, Card point-of-sale transactions, Visa Card cash advances Merrill Lynch’s regulatory net capital as defined by Rule from financial institutions, withdrawals and transfers at ATMs 15c3-1 was $10.761 billion and exceeded the minimum and preauthorized debits from your account (through a requirement of $803 million by $9.958 billion. In program offered by a third party or us). This includes monthly accordance with the Alternative Net Capital Requirements, payments to Bank of America, N.A. if you participate in the Merrill Lynch is required to maintain tentative net capital Visa program, with a deferred debit feature. in excess of $1 billion, net capital in excess of $500 million, and notify the SEC in the event its tentative net Also included are preauthorized credits to your account capital is less than $5 billion. As of December 31, 2011, through our Direct Deposit Service and transfers of funds Merrill Lynch had tentative net capital and net capital in through the Funds Transfer Service, the Merrill Lynch Web excess of the minimum and notification requirements. Bill Pay Service or the Merrill Lynch Standing Letter of Authorization program. Transfers to or from your account by Notice Regarding Payment for Federal Reserve System wire transfers are not “electronic transfers” covered by this notice. Order Flow and Order Routing Information Statement Values for Certain In accordance with SEC customer disclosure rules, Specialty Assets Merrill Lynch, Pierce Fenner & Smith Incorporated Market values on your statements for any Real (“Merrill Lynch”) is required to inform you that it does Property and Closely Held Business investments not receive payment for order flow from market centers are approximations based on periodic appraisals, to which Merrill Lynch routes its legacy Merrill Lynch assessments or common practices for these types of customer orders in cash equity securities. assets. Such values are updated at intervals set in SEC regulations require that Merrill Lynch disclose the accordance with our procedures and may differ from a market centers to which we route customer orders for value derived today by the same method. Market values equity securities, as well as the material aspects of our on your statements for any Oil, Gas and Mineral interests relationships with those market centers. If you would like a are calculated from the most recent 12 months’ net written copy of this information, or information concerning income from producing interests and include a nominal where your individual orders were routed and executed, value for non producing properties. These market values please contact your Merrill Lynch representative. Our should not be used or relied on for transactional, tax order routing information is updated quarterly and is also or any purposes other than general information. available on the Internet at www.ml.com/legal_info.htm.

*Please note: Orders placed through any automatic telephone trading service, electronic, or online trading systems cannot specify a particular market center for execution.

5 Merrill Lynch Disclosure Update Limits on Foreign Ownership Merrill Lynch, Pierce, Fenner & Smith Incorporated offers its of Certain Communications, products, accounts and services through different service Maritime and Aviation Issues models (e.g., self-directed, full-service advice). Based on the Certain laws impose restrictions on foreign ownership of service model, the same or similar products, accounts and certain communications, maritime, aviation and other services may vary in their price or fee charged to a client. specialized businesses. These restrictions limit the foreign ownership of securities in these industries to a percentage Let Us Know if Your Circumstances of the outstanding shares. Have Changed If Merrill Lynch is notified that the percentage of foreign In order to serve you better, please promptly notify your ownership for a particular issue exceeds the predetermined Financial Advisor or Trust Officer if there have been any limit based on the Depository Trust Company’s allocation changes in your financial or personal circumstances, or process, Merrill Lynch will identify the last shares purchased the information you have previously provided, that might by a customer and may need to liquidate the position affect the manner in which your assets or your trust’s causing the overage. Reasonable efforts will be made to assets should be invested. Also, please let us know of such contact the affected customer or customers in advance of changes that may affect distributions being made to you the liquidation. from a trust. A current list of the impacted issues can be found on the Depository Trust Company website at: SIPC Information http://www.dtcc.com/downloads/membership/ You may obtain information regarding the Securities Investor directories/dtc/DTC_Issues_Subject_To_Certifications.pdf Protection Corporation (SIPC), including the SIPC Brochure, via the SIPC’s Web site at www.sipc.org or by calling SIPC at (202) 371-8300.

L-03-12 Neither Merrill Lynch nor its Financial Advisors provide tax, accounting or legal advice. Clients should review any planned financial transactions or arrangements that may have tax, accounting or legal implications with their personal professional advisors. Merrill Lynch Wealth Management makes available products and services offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S) and other subsidiaries of Bank of America Corporation. Trust and fiduciary services are provided by U.S. Trust Company of Delaware and the Merrill Lynch Trust Company division of Bank of America, N.A., Member FDIC. Insurance and annuity products are offered through Merrill Lynch Life Agency Inc., a licensed insurance agency. Bank of America, N.A., Merrill Lynch Life Agency Inc. and MLPF&S, a registered broker-dealer and Member SIPC, are wholly owned subsidiaries of Bank of America Corporation. Investment products, insurance and annuity products:

Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value

Are Not Insured by Any Federal Are Not a Condition to Any Are Not Deposits Government Agency Banking Service or Activity

MLPF&S, U.S. Trust Company of Delaware and Bank of America, N.A. make available investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation or in which Bank of America Corporation has a substantial economic interest. Unless otherwise noted, all trademarks are the property of Bank of America Corporation. © 2012 Bank of America Corporation. All rights reserved. 199108 Code 386518PM-0312