Bank of America plans five-year 90% protected Mitts on Dow Industrials

By Susanna Moon

Chicago, Jan. 27 - Bank of America Corp. plans to price 0% Market Index Target-Term Securities due February 2016 based on the Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10.00 plus 100% to 115% of any gain in the index, with the exact participation rate to be set at pricing.

Investors will receive at least $9.00 per security.

The notes will price in February and settle in March.

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

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