Bank of America plans Accelerated Return Notes linked to crude oil

By Susanna Moon

Chicago, Jan. 5 - Bank of America Corp. plans to price 0% Accelerated Return Notes due January 2012 based on the price of crude oil, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10.00 plus triple any gain in the price of crude oil, up to a maximum of $11.20 to $11.60 per note. The exact cap will be set at pricing.

Investors will be exposed to any losses.

The notes are expected to price and settle in January.

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

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