MICROWAVE peanut butter, honey and sugar in large microwaveable bowl on HIGH 2 to 3 min. or until sugar is melted and mixture is smooth, stirring every minute.
POUR over cereal and peanuts in large bowl; mix to coat well. Press into greased foil-lined 13x9-inch pan.
SPREAD melted chocolate evenly over cereal mixture. Let stand or refrigerate until chocolate is firm. Cut into 24 bars. Store in tightly covered container in refrigerator.
