Bank of America to sell Accelerated Return Notes linked to Dow Jones U.S. Real Estate index

By E. Janene Geiss

Philadelphia, Dec. 24 - Bank of America plans to price 0% Accelerated Return Notes due March 2011 linked to the Dow Jones U.S. Real Estate index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any gain in the index, with the return capped at between 34% and 38%. The exact cap will be set at pricing.

Investors will be exposed to any losses.

The notes are expected to price and settle in January.

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

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