Bank of America plans Accelerated Return Notes linked to S&P Oil & Gas

By Toni Weeks

San Luis Obispo, Calif., April 28 - Bank of America Corp. plans to price 0% Accelerated Return Notes due July 2015 linked to the S&P Oil & Gas Exploration and Production Select Industry index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any index gain, up to a maximum return of 13% to 17% that will be set at pricing. Investors will be exposed to any index decline.

The final index value will be the average of the closing index levels on five trading days shortly prior to maturity.

BofA Merrill Lynch is the agent.

The notes will price in May and settle in June.

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