Bank of America plans 11% notes with 92%-96% trigger on Marathon Oil

By Susanna Moon

Chicago, Jan. 10 - Bank of America Corp. plans to price 11% coupon-bearing notes due February 2013 linked to Marathon Oil Corp. shares, according to an FWP filing with the Securities and Exchange Commission.

Interest is payable quarterly.

If Marathon Oil stock finishes at or above the threshold value - 92% to 96% of the initial price - the payout at maturity will be par of $10. Investors will be exposed to any losses beyond the threshold value.

The exact threshold value will be determined at pricing.

The notes are expected to price and settle in January.

Bank of America Merrill Lynch is the agent.

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