Note: Card terms and conditions state "For a complete listing of redemption options, visit www.bankofamerica.com/worldpoints. ".
My interpretation of this statement is that the bonus points can be redeemed as regular WolrdPoints, e.g. 10,000 points for a $80 cash reward check. You can find more info about redemption of WolrdPoints here, here, and here .
You will qualify for 10,000 bonus points if you use your new credit card account to make at least one Purchase transaction to your account within 60 days of the account open date. Limit one (1) bonus points offer per new account. This one-time promotion is limited to new customers opening an account in response to this offer. Other advertised promotional bonus points offers can vary from this promotion and may not be substituted. Allow 8-12 weeks from qualifying for the bonus points to post to your rewards balance. The value of this reward may constitute taxable income to you. You may be issued an Internal Revenue Service Form 1099 (or other appropriate form) that reflects the value of such reward. Please consult your tax advisor, as we, nor our affiliates, tax advice.