Peanutty Caramel Bars

Directions

• In a large microwave-safe bowl, microwave caramels, water and 1/2 cup peanut butter on high for 45 seconds; stir. Microwave 1 to 1-1/2 minutes longer or until melted. Add cereal and peanuts; toss to coat. Spread into a greased 13-in. x 9-in. pan; set aside.
• In another microwave-safe bowl, melt chips, butter and remaining peanut butter on high for 20-50 seconds; stir until smooth. Spread over cereal mixture. Refrigerate before cutting.