Bank of America plans Capped Leveraged Index Return Notes on S&P 500

By Marisa Wong

Milwaukee, March 24 - Bank of America Corp. plans to price two-year Capped Leveraged Index Return Notes based on the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus double any gain in the index, subject to a cap of 16% to 20%. The exact cap will be set at pricing.

Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond the buffer.

The issuer said it may apply to list the notes on NYSE Arca under the symbol "CVF."

The notes are expected to price in April and settle in May.

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

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