Bank of America plans 12-month Accelerated Return Notes tied to Apple

By Susanna Moon

Chicago, March 14 – Bank of America plans to price 0% Accelerated Return Notes due April 2017 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be triple any stock gain, up to a maximum return of 19% to 23%. The exact cap will be set at pricing.

Investors will be exposed to any losses.

BofA Merrill Lynch is the underwriter.

The notes will price and settle in March.

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