Bank of America eyes Accelerated Return Notes tied to gold spot price

By Devika Patel

Knoxville, Tenn., March 30 – Bank of America Corp. plans to price 0% Accelerated Return Notes due July 2017 linked to the gold spot price, according to a 424B2 filing with the Securities and Exchange Commission.

At maturity, the notes pay out triple any gain on the spot price, subject to a maximum return of 12% to 16%. The exact cap will be set at pricing. Investors will have full exposure to any decline.

Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.

The notes will price in April and settle in May.

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