Bake for 28 to 30 minutes or until wooden toothpick inserted 2-inches from side of pan comes out clean. Cool completely in pan on wire rack.

Spread with frosting. Sprinkle with peanuts. Cover; chill in refrigerator.

Meanwhile, place rice cereal in medium bowl. In small saucepan, combine peanut butter and chocolate chips. Heat and stir over low heat until chocolate is melted. Pour over cereal. Stir to coat evenly. Spread mixture over frosting layer in pan.

Cover and chill in refrigerator until chocolate layer is set. Cut into bars. Keep covered and store in refrigerator.
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