Bank of America plans to sell Mitts due 2013 linked to price of gold

By E. Janene Geiss

Philadelphia, June 29 - Bank of America plans to price 0% Market Index Target-Term Securities due September 2013 linked to the spot price of gold, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus any gain on the price of gold, subject to a maximum return of $15.50 to $16.50. The exact cap will be set at pricing.

Investors will receive at least par.

The notes are expected to price and settle in August.

Merrill Lynch, Pierce, Fenner & Smith Inc., First Republic Securities Co., LLC and Banc of America Investment Services, Inc. are the agents.

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