PROSPECTUS SUPPLEMENT
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REGISTRATION NO. 333-54662
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(To Prospectus dated March 15, 2011)
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Filed Pursuant to Rule 424(b)(3)
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No new Retail HOLDRS will be issued.
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Trading of Retail HOLDRS on Arca will be permanently suspended after the close of trading on the Termination Date. Retail HOLDRS will not be listed for trading on any other securities exchange.
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During the period following the Termination Date in which the Trustee holds the underlying securities, owners of Retail HOLDRS will have the right to withdraw the underlying securities evidenced by their Retail HOLDRS, together with any dividends or other distributions or net proceeds from the sale of any rights or other property received with respect thereto, by delivering a round-lot or an integral multiple of a round lot of Retail HOLDRS to the Trustee and paying the applicable taxes, other charges (if any) and Trustee’s fees. The Trustee has advised that the fee will be up to $10.00 for each round-lot of 100 Retail HOLDRS or portion thereof.
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The Trustee will discontinue the registration of transfers of Retail HOLDRS, suspend the distribution of dividends or other distribution to owners thereof, and will not give any further notices.
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After a period of twelve (12) months following the Termination Date, the Trustee has the right to sell the underlying securities then held by the Retail HOLDRS Trust and, when exercised, will thereafter hold uninvested the net proceeds of any such sale, together with any other cash then held by it hereunder, unsegregated and without liability for interest, for the pro rata benefit of the owners of Retail HOLDRS that have not theretofore been surrendered. At such time owners of outstanding Retail HOLDRS will become general creditors of the Trustee with respect to such net proceeds.
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