Bank of America plans Accelerated Return Notes on gold spot price

By Wendy Van Sickle

Columbus, Ohio, March 9 – Bank of America plans to price 0% Accelerated Return Notes due May 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, capped at a return of 14% to 18%. The exact cap will be set at pricing. Investors will have full exposure to any decline.

Merrill Lynch & Co. is the underwriter.

The notes will price and settle in March.

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