Bank of America to price leveraged notes linked to PHLX Housing Sector

By Angela McDaniels

Tacoma, Wash., April 1 - Bank of America Corp. plans to price 0% Capped Leveraged Index Return Notes due April 2015 linked to the PHLX Housing Sector index, according to an FWP filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par of $10 plus double the index return, subject to a maximum return of 20% to 24% that will be set at pricing. Investors will receive par if the index declines by 5% or less and will lose 1% for every 1% that it declines beyond 5%.

BofA Merrill Lynch is the agent.

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

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