Bank of America plans to price leveraged notes linked to gold, silver

By Angela McDaniels

Tacoma, Wash., June 30 - Bank of America Corp. plans to price five-year 0% Leveraged Index Return Notes linked to the prices of gold and silver, according to an FWP filing with the Securities and Exchange Commission.

The gold spot price and silver spot price are equally weighted in the basket.

The payout at maturity will be par of $10 plus 105% to 120% of any basket gain, with the exact participation rate to be set at pricing. Investors will receive par if the basket declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

The notes will price in June or July with settlement in July or August.

Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC are the underwriters.

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