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Bank of America to price Accelerated Return Notes linked to Merrill Lynch Commodity index eXtra
By Jennifer Chiou
New York, May 20 - Bank of America Corp. plans to price 0% Accelerated Return Notes due June 2012 linked to the Merrill Lynch Commodity index eXtra A 06 Index-Excess Return, according to an FWP with the Securities and Exchange Commission.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.
The payout at maturity is par of $10.00 plus double any gain in the index, up to a maximum payment of $11.10 to $11.50 per $10.00 note. The exact maximum payment will be determined at pricing. Investors will be fully exposed to any index decline.
The notes are expected to price and settle in June.
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