Bank of America to price Accelerated Return Notes linked to silver

By Angela McDaniels

Tacoma, Wash., March 2 - Bank of America Corp. plans to price 16-month 0% Accelerated Return Notes linked to the price of silver, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any increase in the silver spot price, subject to a maximum return of 28% to 32% that will be set at pricing. Investors will be exposed to any decline in the silver spot price.

The notes are expected to price in March or April.

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

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