Bank of America plans capped leveraged notes tied to Eastman Chemical

By Susanna Moon

Chicago, May 5 - Bank of America Corp. plans to price 0% Capped Leveraged Index Return Notes due May 2013 linked to Eastman Chemical Co. shares, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10.00 plus double any gain in the share price, up to a maximum payout of $12.30 to $12.70 per note. The exact cap will be set at pricing.

Investors will receive par if the share price falls by up to 10% and will lose 1% for every 1% that it declines beyond 10%.

The notes are expected to price and settle in May.

Bank of America Merrill Lynch is the agent.

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