Bank of America plans Accelerated Return Notes linked to crude oil

By Susanna Moon

Chicago, Nov. 30 - Bank of America Corp. plans to price 0% Accelerated Return Notes due February 2011 linked to the price of crude oil, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10.00 plus triple any gain in the price of oil, up to a maximum of $11.40 to $11.80 per note. The exact cap will be set at pricing.

Investors will be exposed to any decline in oil price.

The notes will price and settle in December.

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

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