Bank of America ups cap on 0% Mitts linked to Dow Jones-UBS Commodity

By Susanna Moon

Chicago, March 1 - Bank of America Corp. increased the maximum payout on the 0% Market Index Target-Term Securities due March 2015 based on the Dow Jones - UBS Commodity Index - Excess Return, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10.00 plus any index gain, up to a maximum of $17.00 to $18.00 per note with the exact amount to be set at pricing. The cap was originally $16.00 to $17.00 per note.

Investors will receive at least par.

The notes will price in March and settle in April.

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

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