BofA to price conditional enhanced coupon securities on AmEx stock

By Jennifer Chiou

New York, Nov. 16 - Bank of America Corp. plans to price conditional enhanced coupon securities due December 2011 linked to the common stock of American Express Co., according to an FWP filing with the Securities and Exchange Commission.

Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.

A minimum annualized coupon of 3% will be payable quarterly.

The notes will bear interest at the minimum coupon plus a conditional coupon rate of 8% to 12% if the share price is at or above the initial level on the observation dates to occur on the fifth trading day prior to a coupon payment date.

The payout at maturity will be capped at par of $10. Investors will share in losses, with up to 95% at risk.

The notes will price in November and settle in December.

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