Bank of America to price Accelerated Return Notes linked to Apple

By Angela McDaniels

Tacoma, Wash., May 1 - Bank of America Corp. plans to price 0% Accelerated Return Notes due May 2014 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.

If the stock return is positive, the payout at maturity will be par of $10 plus 300% of the stock return, subject to a maximum return of 26% to 30% that will be set at pricing. If the stock return is negative, investors will be fully exposed to the decline.

BofA Merrill Lynch is the agent.

The notes are expected to price and settle in May.

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