Bank of America plans Accelerated Return Notes tied to S&P MidCap 400

By Marisa Wong

Milwaukee, June 28 - Bank of America Corp. plans to price 0% Accelerated Return Notes due September 2011 linked to the S&P MidCap 400 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any index gain, subject to a maximum return of 17% to 21%. The exact cap will be set at pricing.

Investors will be exposed to any losses.

The notes are expected to price in July and settle in August.

Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co. LLC are the agents.

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