Bank of America plans Accelerated Return Notes on financial stocks

By Susanna Moon

Chicago, May 11 - Bank of America Corp. plans to price 0% Accelerated Return Notes due July 2013 linked to a basket of three financial stocks, according to an FWP filing with the Securities and Exchange Commission.

The underlying companies are Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co.

The payout at maturity will be par of $10 plus triple any gain in the basket, up to a maximum return of $12.20 to $12.60 per note. The exact cap will be set at pricing.

Investors will be exposed to any losses.

Bank of America Merrill Lynch will be the agent.

The notes are expected to price in May and settle in June.

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