Bank of America plans five-year protected Mitts tied to index basket

By Susanna Moon

Chicago, Jan. 5 - Bank of America Corp. plans to price 0% Market Index Target-Term Securities due January 2017 linked to a basket of three indexes, according to an FWP with the Securities and Exchange Commission.

The basket consists of the S&P 500 index with a 45% weight, and the MSCI EAFE index and the MSCI Emerging Markets index, each with a 27.5% weight.

The payout at maturity will be par of $10 plus any basket gain, up to a maximum return of 50% to 60%. The exact cap will be set at pricing.

If the basket falls, the payout will be par.

Bank of America Merrill Lynch is the agent.

The notes will price in January and settle in February.

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