Bank of America plans Leveraged Index Return Notes on crude oil

By Toni Weeks

San Diego, Jan. 20 - Bank of America Corp. plans to price capped Leveraged Index Return Notes due March 2013 linked to the crude oil futures contract, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10.00 plus triple any gain in the price of the crude oil futures contract, subject to a maximum return of 12% to 16% that will be set at pricing.

Investors will receive par if the price falls by up to 10% and will be exposed to any losses beyond 10%.

The notes are expected to price in January and settle in February.

Bank of America Merrill Lynch is the agent.

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