Bank of America plans two-year capped leveraged notes on index basket

By Marisa Wong

Madison, Wis., July 29 - Bank of America Corp. plans to price 0% Capped Leveraged Index Return Notes due August 2012 linked to a basket of three indexes, according to an FWP filing with the Securities and Exchange Commission.

The basket includes the S&P 500 index, the MSCI EAFE index and the MSCI Emerging Markets index.

The payout at maturity will be par of $10 plus double any basket gain, subject to a cap of 17% to 21% that will be set at pricing.

Investors will receive par if the basket falls by up to 15% and will lose 1% for every 1% decline beyond 15%.

The notes will price in August and settle in September.

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

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