Bank of America plans Accelerated Return Notes on China/Brazil basket

By Susanna Moon

Chicago, May 3 - Bank of America Corp. plans to price 0% Accelerated Return Notes due July 2011 based on a basket containing equal weights of the FTSE/Xinhua China 25 index and the Bovespa index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any gain in the basket, up to maximum of $11.65 to $12.05 per note. The exact cap will be set at pricing.

Investors will be exposed to any losses.

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

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

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