Bank of America plans Accelerated Return Notes linked to energy stocks

By Angela McDaniels

Tacoma, Wash., Aug. 18 – Bank of America Corp. plans to price 0% Accelerated Return Notes due October 2015 linked to a basket of energy sector stocks, according to an FWP filing with the Securities and Exchange Commission.

The basket includes the American Depositary Receipts of BP plc with a 33.34% weight, the common stock of Exxon Mobil Corp. with a 33.33% weight and the common stock of Occidental Petroleum Corp. with a 33.33% weight.

The payout at maturity will be par of $10 plus 300% of any basket gain, subject to a maximum return of 13% to 17% that will be set at pricing. Investors will be fully exposed to any basket decline.

BofA Merrill Lynch is the agent.

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

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